Parliamentary Search

Proceeding contribution from Lord Oakeshott of Seagrove Bay (Liberal Democrat) in the House of Lords on Monday, 1 March 2010. It occurred during Debates on delegated legislation on Personal Accounts Delivery Authority Winding Up Order 2010.

Personal Accounts Delivery Authority Winding Up Order 2010

I am grateful to the noble Lord. I am sorry if I did not make it clear what my reservation was. I appreciate that there is an enormous logistical problem with the system, and do not disagree with the timing. However, it is quite wrong and even dangerous to have a scheme come in whenever it can on the basis of much less than a final 8 per cent. That is a snare and a delusion. The systems are the same whether the contribution rate is 1 per cent or 3 per cent. I am sorry if I did not make it clear that my worry is about that and not about timing.

Secondary information

Type
Proceeding contribution
Reference
717 c340GC 
Session
2009-10
Chamber / Committee
House of Lords Grand Committee
Subjects
Women Investment Employees' contributions Employers' contributions Functions Low incomes Public appointments Workplace pensions Pensions Property transfer Personal pensions Non-departmental public bodies Pension funds Trusts Pensions Regulator Personal Accounts Delivery Authority Occupational money purchase schemes National employment savings trust scheme National Employment Savings Trust Corporation
Legislation
Personal Accounts Delivery Authority Winding Up Order 2010
National Employment Savings Trust Order 2010
Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010
Link
View this Proceeding contribution on www.publications.parliament.uk