---

Pensions Bill

My Lords, I have my Tellers in place—I should just like to keep the government Whips alive on this. Of course, the Minister is entirely right that we have reached agreement. I thank him very much for the Government’s movement on this issue—from saying that it was unnecessary to the position that we have today. We have taken an important step forward. It is one of the first post-legislative clauses of this kind that I can remember, ensuring that there will be a review of an Act after it has been in operation. Certainly, I can remember nothing like it in previous pensions legislation. Obviously, we hope that when the second Pensions Bill comes to this House we will have a similar clause, because it is a valuable precedent. More than that, it is in the interests of the public as consumers and taxpayers to ensure that mistakes and errors in the implementation of legislation are picked up as early as possible. It is also in the interests of Ministers. The Secretary of State must now prepare a report on the operation of the Act before the end of 2014. That is substantially better than the Government’s first offer of 2017, and although 2014 may seem a long way ahead, the Minister made a fair point in the previous debate when he said that some of the most important provisions do not come into operation before 2012, so 2014 is a fair compromise. I thank all those who supported me in this amendment, particularly those who voted in the first Division, which was narrowly carried by 141 to 138. I thank my noble friend Lord Norton for his consistent support, the noble Lord, Lord Oakeshott—not the noble Lord, Lord Ashcroft—who spoke on my behalf, and my Tellers. I also thank Nigel Waterson in the other place for his excellent speech—at least we ensured that this was debated in the other place, which was one of my aims—and last, but not least, my Front Bench. I am tempted to say that it just shows what can be achieved when we work together, but I shall not. Instead, I thank my noble friends Lord Skelmersdale and Lady Noakes for their help and support and for their vast effort throughout the progress of the Bill. The Bill is an important step forward, and I agree with the Commons amendment.