Clause 38 - Duty of the Regulator to issue scheme return notices
Pensions Bill
2:45 pm
Mr Malcolm Wicks (Minister for pensions, Department for Work and Pensions; Croydon North, Labour)
I apologise if I am not intervening at the appropriate time, but I want to give the hon. Gentleman more information on his substantive point. Scheme returns will also be issued. We often forget about the personal pension providers but, as a generality, they are likely to be issued every three years. However, defined benefit schemes—the core of the Bill—will have a scheme return each year. I am generalising, but they have a higher risk for members.