Clause 68
Pensions Bill
9:30 am
Andrew Selous (Shadow Minister, Work & Pensions; South West Bedfordshire, Conservative)
The case that I was making was slightly different to the one that the Minister is rebutting. I am purely arguing for stakeholder providers to have some flexibility. We know that by law they cannot close the schemes down; I am not seeking to change that. For anyone who wants to stay in a stakeholder and pay money into it, that will be absolutely secure. I am just saying that the providers of the stakeholder schemes, who have done a useful, necessary job and have obligations going forward, should not be forced to accept business that might be uneconomical, and which might have a much better home somewhere else.