Part of Pensions Bill – in a Public Bill Committee at 11:00 am on 30 March 2004.
I hear what the Minister says. This is a probing amendment and I will withdraw it, but I find it difficult to understand why the cost of working out a pension, no matter where the scheme collapsed, would differ depending on whether compensation was always set at 50 per cent. A two-thirds pension compensation would just involve having a different percentage point on the computer. I cannot understand the costs of working out a pension differing from one pension to another, no matter what the percentage. I ask the Minister to consider that. My hon. Friend the Member for Hamilton, South and I reserve the right to return to the matter, but I beg to ask leave to withdraw the amendment.
Amendment, by leave, withdrawn.
Amendment made: No. 477, in
schedule 7, page 194, line 35, leave out from 'if' to end of line 38 and insert 'paragraph 32(3A) applies.'.—[Malcolm Wicks.]