That the draft orders and regulations laid before the House on 10, 11 and 23 February be approved. Relevant document: 7th report from the Joint Committee on Statutory Instruments, considered in Grand Committee on 23 March. Motions agreed.

That the draft orders and regulations laid before the House on 10, 11 and 23 February be approved. Relevant document: 7th report from the Joint Committee on Statutory Instruments, considered in Grand Committee on 23 March. Motions agreed.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2009. Draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Draft Financial Assistance Scheme and Incapacity Benefit (Miscellaneous Amendments) Regulations 2009. Draft Occupational Pension Schemes (Contracting-out) (Amendment) Regulations 2009. Lords motion to approve. Agreed to on question (formal).

Draft Occupational Pension Schemes (Levy Ceiling) Order 2009. Draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Draft Financial Assistance Scheme and Incapacity Benefit (Miscellaneous Amendments) Regulations 2009. Draft Occupational Pension Schemes (Contracting-out) (Amendment) Regulations 2009. Lords motion to approve. Agreed to on question (formal).

It should be kept what in real terms?

It should be kept what in real terms?

In 2002, this Government recognised that members of defined-benefit occupational pension schemes were underprotected if their sponsoring employer failed. That is why we used the Pensions Act 2004 to establish the Pension Protection Fund. It is a statutory fund that protects members of defined-benefit occupational pension schemes and members of...

In 2002, this Government recognised that members of defined-benefit occupational pension schemes were underprotected if their sponsoring employer failed. That is why we used the Pensions Act 2004 to establish the Pension Protection Fund. It is a statutory fund that protects members of defined-benefit occupational pension schemes and members of...

There has been no lack of pensions legislation in recent years.

There has been no lack of pensions legislation in recent years.

Indeed, although I do not think that anything is scheduled to be brought forward in the immediate future. The noble Lord asked me to confirm the numbers, and I am sorry if I went a little quickly earlier. Let me look first at the pension protection levy for 2008-09. It...

Indeed, although I do not think that anything is scheduled to be brought forward in the immediate future. The noble Lord asked me to confirm the numbers, and I am sorry if I went a little quickly earlier. Let me look first at the pension protection levy for 2008-09. It...

The Grand Committee will be grateful for the Minister’s careful explanation of these two orders, especially the background to them. I have nothing to say about the background to these orders, but I might be tempted to say something when we get to the financial assistance scheme regulations. As for...

The Grand Committee will be grateful for the Minister’s careful explanation of these two orders, especially the background to them. I have nothing to say about the background to these orders, but I might be tempted to say something when we get to the financial assistance scheme regulations. As for...

I thank the Minister for the explanation of the changes. This is a timely moment to ask a few serious questions about the grave position in which the Pension Protection Fund finds itself. The most recent figures were that defined benefit pension schemes in this country, the universe which the...

I thank the Minister for the explanation of the changes. This is a timely moment to ask a few serious questions about the grave position in which the Pension Protection Fund finds itself. The most recent figures were that defined benefit pension schemes in this country, the universe which the...

Perhaps I may raise one other point that I forgot to cover in my opening remarks. On one high-profile pension, does the Minister share my regret, for this purpose anyway, that the Royal Bank of Scotland did not go bust, unlike so many of its customers, so that Sir Fred...

Perhaps I may raise one other point that I forgot to cover in my opening remarks. On one high-profile pension, does the Minister share my regret, for this purpose anyway, that the Royal Bank of Scotland did not go bust, unlike so many of its customers, so that Sir Fred...

That the Grand Committee do report to the House that it has considered the Occupational Pension Schemes (Levy Ceiling) Order 2009. Relevant Document: 7th Report from the Joint Committee on Statutory Instruments

That the Grand Committee do report to the House that it has considered the Occupational Pension Schemes (Levy Ceiling) Order 2009. Relevant Document: 7th Report from the Joint Committee on Statutory Instruments

It should be kept whole. Last year, it was £675 million. The Pension Protection Fund said that it would try to keep that level for three years, adjusted for changes in prices only.

It should be kept whole. Last year, it was £675 million. The Pension Protection Fund said that it would try to keep that level for three years, adjusted for changes in prices only.

I thank both noble Lords who have spoken. The noble Lord, Lord Oakeshott, is right: these are serious times for pensions provision and important issues need to be addressed. I shall try to answer each of the questions that have been raised. The noble Lord, Lord Skelmersdale, made a point...

I thank both noble Lords who have spoken. The noble Lord, Lord Oakeshott, is right: these are serious times for pensions provision and important issues need to be addressed. I shall try to answer each of the questions that have been raised. The noble Lord, Lord Skelmersdale, made a point...

I am sure the noble Lord will understand that that issue is way outside the matter that is before us today, and I am not briefed on all the detail behind it. In common with most people, one is gravely concerned about someone in those circumstances walking away with a...

I am sure the noble Lord will understand that that issue is way outside the matter that is before us today, and I am not briefed on all the detail behind it. In common with most people, one is gravely concerned about someone in those circumstances walking away with a...

That the Grand Committee do report to the House that it has considered the Pension Protection Fund (Pension Compensation Cap) Order 2009. Relevant Document: 7th Report from the Joint Committee on Statutory Instruments Motion agreed.

That the Grand Committee do report to the House that it has considered the Pension Protection Fund (Pension Compensation Cap) Order 2009. Relevant Document: 7th Report from the Joint Committee on Statutory Instruments Motion agreed.

Draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Motion to approve. Agreed to on question.

Draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Motion to approve. Agreed to on question.

Occupational Pension Schemes (Levy Ceiling) Order 2009. Lords debate on a motion to consider. Agreed to on question. Debated with draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Grand Committee held in the Moses Room. [Relevant document: 7th report from the Joint Committee on Statutory Instruments]

Occupational Pension Schemes (Levy Ceiling) Order 2009. Lords debate on a motion to consider. Agreed to on question. Debated with draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Grand Committee held in the Moses Room. [Relevant document: 7th report from the Joint Committee on Statutory Instruments]

Pension Protection Fund (Pension Compensation Cap) Order 2009. Lords debate on a motion to consider. Agreed to on question. Debated with draft Occupational Pension Schemes (Levy Ceiling) Order 2009. Grand Committee held in the Moses Room. [Relevant document: 7th report from the Joint Committee on Statutory Instruments]

Pension Protection Fund (Pension Compensation Cap) Order 2009. Lords debate on a motion to consider. Agreed to on question. Debated with draft Occupational Pension Schemes (Levy Ceiling) Order 2009. Grand Committee held in the Moses Room. [Relevant document: 7th report from the Joint Committee on Statutory Instruments]

Draft Occupational Pension Schemes (Levy Ceiling) Order 2009; draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Considered by Delegated Legislation Committee.

Draft Occupational Pension Schemes (Levy Ceiling) Order 2009; draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Considered by Delegated Legislation Committee.

That the draft orders and regulations be referred to a Grand Committee. Motion agreed.

That the draft orders and regulations be referred to a Grand Committee. Motion agreed.

Draft Bradford and Bingley plc Compensation Scheme (Amendment) Order 2009. Draft Northern Rock plc Compensation Scheme (Amendment) Order 2009. Draft Tax Credits Up-rating Regulations 2009. Draft Guardian's Allowance Up-rating Order 2009. Draft Guardian's Allowance Up-rating (Northern Ireland) Order 2009. Draft Renewable Transport Fuel Obligations (Amendment) Order 2009. Draft Occupational Pension Schemes (Levy Ceiling) Order 2009. Draft Financial Assistance Scheme and Incapacity Benefit (Miscellaneous Amendments) Regulations 2009. Draft Pension Protection Fund (Pension Compensation Cap) Order 2009. Draft Occupational Pension Schemes (Contracting-out) (Amendment) Regulations 2009. Draft European Parliamentary Elections (Northern Ireland) (Amendment) Regulations 2009. Lords motion that the draft orders and regulations be referred to a Grand Committee. Agreed to on question (formal).

Draft Bradford and Bingley plc Compensation Scheme (Amendment) Order 2009. Draft Northern Rock plc Compensation Scheme (Amendment) Order 2009. Draft Tax Credits Up-rating Regulations 2009. Draft Guardian's Allowance Up-rating Order 2009. Draft Guardian's Allowance Up-rating (Northern Ireland) Order 2009. Draft Renewable Transport Fuel Obligations (Amendment) Order 2009. Draft Occupational Pension...