Clause 35 - Registrable information
Pensions Bill
2:30 pm
Mr Malcolm Wicks (Minister for pensions, Department for Work and Pensions; Croydon North, Labour)
The best thing I can do is to reassure the hon. Gentleman that our intentions are sound and sensible. It is not always easy in primary legislation to specify every piece of information that might be required in the foreseeable future. Essentially, we want to enable the regulator to analyse the information and to inform its risk-based approach so that it can target resources effectively. We want to allow flexibility as circumstances change.
The type of information that the regulator needs may change. None of us can quite anticipate the nature and details of occupational pension schemes in 10 years' time. As I say, our intentions on the matter are honourable and sensible, and I hope that the hon. Gentleman will accept that.