---

Pensions Bill [HL]

In the interests of brevity as time is short, I am very happy to speak to Amendments 40 and 41, which are grouped separately. Amendment 40 is related to the previous amendment, which concerned small pension pots. We want to ensure that small contributors to pensions over short periods are given due protection. We want to see that individuals do not lose out where they have less than two years’ service, particularly losing the employer’s contribution if withdrawn. We should like to see some ongoing discussion and review of how the position of these savers and pensioners can be protected. However, I accept that the transfer of pension capital is critical to this. Amendment 41 is a probing amendment. It goes back to the discussion that we had on the past couple of amendments on the whole issue of the costs of pension schemes. We remain concerned that there are still no incentives for employers to be responsible for minimising the costs of the occupational pension schemes in which they are involved. We accept that progress has been made on this but we also accept that the Turner commission originally recommended more action on this point. We would like to make sure that, as the scheme is developed, there is an ongoing commitment to review whether the employer’s contribution should be net of the costs of the schemes. I beg to move.