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Pensions Bill

I thank the hon. Members for Eastbourne (Mr. Waterson) and for Rochdale (Paul Rowen) for their support for the amendments. The hon. Member for Rochdale raised a couple of points that I wish to address. The costs will depend on the detail of the operational design of the compliance regime, but officials at the regulator are currently developing cost estimates both for provision of the compliance regime by the regulator and for perhaps delegating or contracting out elements of the regime, which is permitted under the Pensions Act 2004. That will inform the regulator's decision about how to deliver the service. On the wider issue of funding, the pension regulator's extended role will clearly be central to the success of the reforms. We are committed to supporting the regulator in that. We have said that set-up costs for the compliance regime will be funded by way of grant in aid, and we are currently considering how ongoing compliance costs would be funded. It is important that we work with small employers to ensure they are aware of what their obligations will be, and the Government certainly intend to make sure that there is consistent and coherent information to support the introduction of the reforms by helping to raise awareness. I take on board the disappointment expressed on issues to do with personal advice to each individual. We want to make sure that the information that people need is targeted, so it is relevant to individual circumstances. I commend the amendments to the House. Lords amendment agreed to. Lords amendments Nos. 68 to 138 agreed to [some with Special Entry].