Pension Schemes Bill

The noble Baroness has an aversion to the Treasury—I cannot imagine why—but the Treasury has this power to provide the guidance under the Bill. The Treasury and the FCA have set out the details of what the guidance has to contain. It is already written into the FCA rulebook that it has to cover benefits. Therefore, the Government’s contention is that there is no need for a second amendment requiring this to be in the Bill when not only will it happen, but the rules saying that the guidance providers must do it are already in existence.