Pension Schemes Bill [HL]

My Lords, Amendment 38 in my name endeavours to fulfil the objectives of the pensions dashboard b...

My Lords, I support Amendments 43 and 44 in the name of the noble Lord, Lord Young. He made the p...

My Lords, the purpose of Amendment 39 is to contain the delegated powers in the Bill so that they...

My Lords, I will make a few observations about this suite of amendments. It strikes me that the d...

With the state pension, you already get from social services advice on what your pension will be ...

I thank my noble friend. Of course, he is absolutely right but the point of the dashboard is that...

My Lords, I was not intending to speak to these amendments, but it has been quite an interesting ...

My Lords, I will speak to the three amendments in my name in this group and respond to the others...

My Lords, I am grateful to all noble Lords who have spoken to this group of amendments. Perhaps I...

Perhaps I should already know this, but will it be possible, in the additional technical work, fo...

It will be entirely up to the consumer to decide whether they wish to have a dashboard showing al...

At one level it is entirely up to the consumer, but if somebody hacks into the system or steals t...

I will come on to the question of identity in a second when I address the amendment tabled by my ...

Perhaps I may put three questions to the Minister in response to his comments. First, he opened b...

My Lords, I want to ask a couple of questions so that the Minister does not need to come back to ...

My Lords, on the final point made by the noble Baroness, it is fair to say that our debate last W...

My Lords, the noble Baroness, Lady Sherlock, talked about the business model of these dashboards....

The Government’s vision is for consumers to have access to their own information if they wish, an...

My apologies: my question was not clear. I was asking specifically about the business model behin...

Scheme providers have been absolutely clear that they are keen for this to happen, mainly because...

My Lords, is there not the point that, with people having on average 11 different jobs during the...

My Lords, this has been a long debate, and I do not propose to lengthen it much more. I am gratef...

Moved by

Baroness Altmann

41: Clause 118, page 105, line 9, at end insert—

“( )...

My Lords, the amendments in this group stand in my name and those of my noble friend Lord Flight,...

My Lords, the point that I want to make is that there are four cases where the FCA is the regulat...

My Lords, I shall speak briefly to Amendment 68. I put my name to it and raised the issue at Seco...

My Lords, the six amendments in this group in my name and that of my noble friend Lord McKenzie o...

My Lords, the amendments in this group are designed to ensure that consumers are placed at the he...

I hear what the Minister is saying and am very grateful for the thoroughness with which he is res...

Consumers will have various modes of redress available to them if they are not served legally or ...

I thank my noble friend for his very thorough response to this group of amendments. Is it not pos...

We come back to the question of a liability model. I might as well deal with that now. We set out...

My Lords, is not the big issue in this territory that when people have discovered that they have ...

My noble friend is quite right. The industry delivery group has these matters squarely on its age...

The liability model has not been settled. That is perfectly understandable; I do not rush to crit...

I believe that to be so but I need to take advice; I will write to the noble Baroness on that poi...

On a related point, I tried hard to listen to what the Minister said because I am particularly in...

Yes.

Excellent. In that case, I am trying to relate that to New Section 238A(5)(c), to be introduced b...

I will certainly go away and consider that point, even if “fiduciary” is not the appropriate word...

I thank my noble friend for his detailed response and the broadness of his willingness to conside...

Moved by

Baroness Bowles of Berkhamsted

46: Clause 118, page 107, line 28, at end ins...

My Lords, I am conscious that, in the two groups we have already discussed, we have touched quite...

My Lords, my noble friend’s amendment, among other things, speaks about advertising. The underlyi...

My Lords, I have some sympathy with the noble Baroness’s amendment in wanting to set out in regul...

My Lords, I am grateful to the noble Baroness, Lady Bowles, for having opened up this territory. ...

My Lords, I fully appreciate that the noble Baroness is trying to ensure that consumers are prope...

My Lords, I thank the Minister for his response. As I said, this is a probing amendment but also ...

Moved by

Baroness Altmann

54: Clause 119, page 111, line 45, at end insert—

“23...

My Lords, I rise to speak to Amendments 54 and 65, both of which are on the same topic. I beg the...

The noble Baroness paints a bleak picture; I do not doubt that she is absolutely right.

Is ...

The noble Lord raises an important point which highlights that I have not necessarily covered all...

My Lords, I do not want to say very much, but I have a couple of questions on the back of what th...

My Lords, I completely appreciate my noble friend’s desire to ensure that the information on the ...

I thank my noble friend very much for his response. I said that this was a probing amendment, and...

Moved by

Baroness Neville-Rolfe

72: After Clause 122, insert the following new Clause...

My Lords, Amendment 72 would require the Secretary of State to lay an impact assessment before Pa...

I certainly agree with the spirit behind the amendment—that transparency is a good thing and that...

I am a big supporter of auto-enrolment, which has been transformative and helps with this long-te...

I am staggered by the numbers on the cost of doing this that are bandied around. As far as I can ...

I echo the words of the noble Baroness, Lady Drake. A number of elements of the expense shown in ...

I am grateful to my noble friend for raising this important issue.

The Government published...

As I said right at the beginning, I value the work that the department has already done on this m...

Moved by

Baroness Stedman-Scott

73: After Clause 123, insert the following new Clause...

Moved by

Baroness Stedman-Scott

77: Clause 124, page 118, line 11, after “(d)” insert...

My Lords, Amendment 77 seeks to extend the scope of Clause 124 to include transfers from unfunded...

My Lords, I support my noble friend’s amendment and will speak to my Amendment 78, which is group...

I have some amendments which we will come to later concerning similar issues. I very much support...

My Lords, there are three amendments in this group. Amendment 78, in the name of the noble Barone...

I thank my noble friend Lady Altmann for tabling her Amendment 78, which introduces further condi...

My question related to Amendment 77 and unfunded public service DB schemes where there is a requi...

In the circumstances, I will write to the noble Lord if he will allow me.

In conclusion, fo...

This has become more problematic because of pension freedom. Before that, you could not quickly r...

My Lords, I want to ask a question before the Minister comes back on this. In her reply, she gave...

The suggestion made by the noble Baroness, Lady Sherlock, is very helpful. I would be happy to do...

I thank my noble friend for her reply, which does not come as a surprise to me. I also thank nobl...

Moved by

Lord Sharkey

79: After Clause 124, insert the following new Clause—

“C...

My Lords, many of the problems faced by our pensions system are to do with drawdown and transfer,...

My Lords, I have added my name to this amendment, which is a very important amendment in the cont...

My Lords, this amendment goes to the heart of protecting people’s pensions. We have touched upon ...

My Lords, I am grateful to the noble Lord, Lord Sharkey, and my noble friend Lady Altmann for tab...

I am very grateful to the Minister for that very comprehensive answer. There are one or two obser...