Clause 3 - Duty of employers to facilitate access to SaRA schemes
Rights of Savers Bill
3:00 pm
Nigel Waterson ((Also PPS To the Chairman of the Party), Work & Pensions & Welfare Reform; Eastbourne, Conservative)
The official Opposition support the amendment entirely. The Conservative party is nothing if not the party of small business, and we can understand any legitimate concerns about not having a cut off that reflects, as my right hon. and learned Friend said, the existing cut off for stakeholder pensions. We agree that there is an unresolved issue in the Turner report about not excluding smaller firms. I appreciate that commission members have concerns about avoidance and so on that the Government will need to address in due course. There is a good argument for a cut off and adopting that which exists for stakeholder pensions seems entirely sensible and has our full support.