Notification requirements

Part of Pension Schemes Bill [Lords] – in a Public Bill Committee at 3:15 pm on 7 February 2017.

Alert me about debates like this

Photo of Alex Cunningham Alex Cunningham Shadow Minister (Work and Pensions) (Pensions) 3:15, 7 February 2017

I am particularly interested to know what proposals there might be in regulations to ensure that the member is told, whether at the winding-up stage or when it first has an impact on them, and how that will be defined. I hope that the Minister will respond to that point before I sit down. I accept that it is particularly important that members are engaged throughout the process. Unfortunately, the Minister does not agree with me on that point. I believe that there is no more key a person in this chain than the member, but I accept that they should be informed when it is a significant thing affecting their lives. The Minister might like to intervene to explain what proposal there will be in regulations to ensure that members are informed when there is a material impact on their pension pot. Otherwise, at this stage I beg to ask leave to withdraw the amendment.