Clause 107 - Sanctions for avoidance of employer debt etc

Part of Pension Schemes Bill [Lords] – in a Public Bill Committee at 11:15 am on 3 November 2020.

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Photo of Neil Gray Neil Gray Shadow SNP Spokesperson (Work and Pensions) 11:15, 3 November 2020

I understand the Minister’s riposte, but there are two points here. First, the amendment covers reasonable excuse by allowing consideration to be given to the person’s role in the trust. For instance, in a trade union, to take the argument of the Chair of the Select Committee, consideration would be given to the person’s role.

Secondly, the Minister is asking us to wait until the Pensions Regulator has consulted and says how it thinks it should deal with the matter, but by that point it will be too late to ensure that we have got this measure right. I hope that the Minister looks again at this point and provides better comfort to the likes of the Institute and Faculty of Actuaries, which has a very broad base of professional expertise, and which suggested the amendments. I hope for a more favourable response from the Minister.