Clause 20 - Duty to set targets for collective benefits

Part of Pension Schemes Bill – in a Public Bill Committee at 12:00 pm on 30th October 2014.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 12:00 pm, 30th October 2014

The hon. Gentleman makes a good point. We will consult on that when introducing regulations. As he said, if there is a huge probability range, practically any outcome will be within the probability range and although the probability range will always be hit, people would not often be paid the pension they were expecting. The whole point is to reduce the volatility of people’s pension outcomes, so it would be at odds with our goal to have an absurdly large probability range.

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Jeff Chipps
Posted on 4 Nov 2014 2:52 am (Report this annotation)

Not ANOTHER Clause 20 Mr Webb?? And again as per the 'frozen' expat pensioners, "people would not often be paid the pension they were expecting".
With your hand at the controls I wouldn't expect anything less!

Jeff Chipps
Posted on 4 Nov 2014 2:53 am (Report this annotation)

Not ANOTHER Clause 20 Mr Webb?? And again as per the 'frozen' expat pensioners, "people would not often be paid the pension they were expecting".
With your hand at the controls I wouldn't expect anything less!