Clause 10 - The Determinations Panel
Pensions Bill
3:45 pm
Professor Steve Webb (Shadow Secretary of State for Work and Pensions, Work & Pensions; Northavon, Liberal Democrat)
When I first saw this provision, I admit that I was bewildered that there is another bit of this organisation and that the people who work on it, and who do what regulators do, cannot be the staff of the regulator. I am slightly enlightened by the Minister's explanation, but only slightly.
We could draw an analogy with the law. If the argument were that we do not want the police, the prosecution service and the court all being the same organisation, I would be able to see where the Government were coming from. However, given that there is a right of appeal anyway to someone who is independent, why is there a Chinese wall within the regulator? There are people who investigate problems with pension schemes, but the person who decides whether something must be done is not employed by the regulator. Who are they employed by? Who is paying these people's wages? We know that these people cannot be regulator staff. To whom are they accountable? If they are accountable to the regulator, where has the independence gone? There is an ability to make an independent appeal against independent people anyway. The Minister may say yes, but there is a good Conservative precedent. That does not wash with me. Such a statement would not reassure me. Before we allow the clause to stand part of the Bill, I hope that the Minister can hold our collective hand a little bit longer, because I am not with him yet.