Clause 27 - Requirement to submit supervisory return

Pension Schemes Bill [Lords] – in a Public Bill Committee at 10:45 am on 3rd November 2020.

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Amendment made: 6, in clause 27, page 17, line 38, leave out from beginning to end of line 40 and insert “The notice must specify—”.—(Guy Opperman.)

This amendment would remove provision requiring a notice from the Pensions Regulator to collective money purchase scheme trustees to include a requirement to assess the extent to which the scheme is operating in a manner fair to all members.

Clause 27, as amended, ordered to stand part of the Bill.

Clauses 28 to 44 ordered to stand part of the Bill.

Schedule 2 agreed to.

Clause 45 ordered to stand part of the Bill.

Photo of Graham Stringer Graham Stringer Labour, Blackley and Broughton

Before I ask the Committee to reach a decision on clause 46, does the right hon. Member for East Ham wish to press amendment 25 to a vote?

Photo of Stephen Timms Stephen Timms Chair, Rt Hon Stephen Timms MP Committee, Chair, Rt Hon Stephen Timms MP Committee

I am very grateful for the support that has been expressed and for the points that the Minister has made. I take his point that there is a consultation under way. I very much hope that the regulator will decide to require information on diversity from the schemes that are set up, and that it will continue to do so as the trustee board develops. However, at this stage I will not press the amendment to a vote.

Clause 46 ordered to stand part of the Bill.

Clauses 47 and 48 ordered to stand part of the Bill.

Schedule 3 agreed to.

Clauses 49 to 51 ordered to stand part of the Bill