The MPS winter newsletter states:
“Whilst the Trustees are and always have been supportive of any initiative that had the underlying aim of improving members outcomes, the Trustees do not have the power to make these changes without recourse to the Guarantor”
—in other words, the Government.
“We will of course continue to work in your interests across all aspects of running the scheme”.
Let me say this, earnestly, to the Minister. The trustees will be listening. They want to renegotiate the current sharing arrangements. If approached by the trustees, will the Government, as guarantor, negotiate those arrangements? If the Minister wishes to intervene now, I will take his intervention; otherwise I hope he will address that question when he sums up the debate.