Speeches by Bell.

“I will resist the temptation to relitigate the entire argument about clause 38, which we discussed at some length on Tuesday. I entirely agree with the thrust of the new clause, which is that there should be scrutiny of the use of any such powers—that includes the scale measures, not just asset allocation. I can offer …”

“The first reassurance I can give is that this part of the Bill requires only one regulatory framework, because it all sits within the Pensions Regulator and within the defined benefit part of the landscape, as I am aware the hon. Member for Aberdeen North knows. On the hon. Member’s wider point, which is relevant to ma…”

“These new clauses deliver proposals that are contained in the final report of the pension investment review by adding a new chapter in part 2 of the Bill. Clause 38 set out the requirements for master trusts and group personal pensions to demonstrate that they have sufficient scale, and this new chapter merely supports…”

“I am grateful to the hon. Member for the new clause. I acknowledge the concerns surrounding the abolition of the Pension Protection Fund admin levy. This is not a new issue; it has obviously been raised significantly by parts of the industry. I broadly support the intent of the new clause. It provides for the expenses …”

“I am grateful for this new clause, which was tabled by one of my neighbours in south Wales, the hon. Member for Caerfyrddin (Ann Davies). It is obviously an important issue for many ex-mineworkers and for families across Great Britain. It is basically straightforward: I want to reassure the Committee that the Governmen…”

“I will remark briefly on the new clause. To state the obvious, the quality and independence of trustees is an integral part of our trust-based pensions system. It is very important, and it is right for the hon. Member to highlight it. Within those schemes, there are a range of trustee models. I would not want to put a …”

“I am grateful to the hon. Member, as always, for raising those specific issues in this debate. It has been a good opportunity to raise such cases, as he regularly does. The hon. Member will be totally unsurprised that the Government cannot support the new clause, because it is the Pensions Regulator’s role to regulate …”

“I beg to move, That the clause be read a Second time.”

“Clause 98 is a standard provision setting out how regulation-making powers in the Bill may be used. It confirms that all regulations will be made by statutory instrument and allows them to be tailored to different situations and scheme types. The clause ensures that the Bill can work effectively in practice. Clause 99 …”

“I thank all Opposition Members for those reflections. I will come to my own after I have dealt with the remaining clauses and amendments—we must finish the job. On the Opposition amendments, I am grateful to the hon. Member for Wyre Forest for his words. I am firmly committed to writing to both him and my hon. Friend t…”

“Clause 97 introduces the schedule of amendments that are being made to the Pensions Act 2004. These amendments extend the regulatory functions of the Pensions Regulator to include superfunds and other matters in the Bill. Amendments 229 to 239 ensure that a similar effect is achieved in relation to the guided retiremen…”

“Despite the hon. Member’s kind invitation, and as he well knows, I am not about to start commenting on the Budget—something I have heard him say himself many times over the years in his previous roles. More seriously, the last 50 years tell us that the question of pension uprating is a big deal and very important. By “…”

“We all agree that we want providers and, most importantly, consumers to operate in this landscape as easily as possible. Particularly in the case of consumers, we do not want them to know the difference between the two. I have been very clear with both regulators that that is the objective, and I have been very clear w…”

“I beg to move, That the clause be read a Second time. I thank all Members for their patience. The new clause amends part 1 of the Pensions Act 2008. It is essential to address a current gap in the pension system to ensure that employers share timely and accurate data with pension schemes, beyond the current one-off req…”

“I will not speak for long. The hon. Member is absolutely right to say that defined-benefit schemes have been material buyers of gilts over a long period. The market is perhaps deeper and more robust than what some of his remarks might imply. There is a range of participants in our gilt markets. However, I take the poin…”

“I beg to move amendment 63, in clause 38, page 37, line 11, after “requirement” insert “by reference to the main scale default arrangement” This amendment clarifies how the concept of a main scale default arrangement fits into the approval framework under section 28A.”

“Before I come to the detail of the amendment, I should re-emphasise the point made by my hon. Friend the Member for Tamworth about the volume of amendments to clause 38 in particular, which is why I asked for the amended clause with track changes to be circulated to the whole Committee. I hope that Members have found t…”

“I beg to move amendment 107, in clause 38, page 43, line 9, at end insert— “28CA Information (1) Regulations may make provision about information that the trustees or managers of a relevant Master Trust or the provider of a group personal pension scheme must give to the Regulatory Authority about the allocation of asse…”

“The amendment is absolutely right that trustees should consider a wide range of options when they are developing their default pension benefit solutions. As I have just remarked to the hon. Member for Aberdeen North, I suspect that that will be a big focus for trustees and scheme managers in the years ahead. Clause 42 …”

“I beg to move amendment 209, in clause 46, page 60, line 36, leave out subsection (4). This amendment leaves out a penalty provision that government amendments to Clause 47 would make redundant.”