Moved by

Viscount Thurso

162: After Clause 117, insert the following new Clause—

“Discharge of liabilities in respect of compensation: commencement

(1) The Secretary of State must, within three months of the day on which this Act is passed, make regulations to commence the provisions laid out in section 169(2)(d) of the Pensions Act...

Moved by

Viscount Thurso

162: After Clause 117, insert the following new Clause—

“Discharge of liabilities in respect of compensation: commencement

(1) The Secretary of State must, within three months of the day on which this Act is passed, make regulations to commence the provisions laid out in section 169(2)(d) of the Pensions Act...

I beg to move.

I beg to move.

Tabled by

Baroness Hayman

167: After Clause 117, insert the following new Clause—

“Clarification of pension scheme investment duties

(1) In section 36 of the Pensions Act 1995 (choosing investments), after subsection (9) insert—

“(10) In complying with requirements imposed by this section and regulations, a trustee or manager must have regard to guidance prepared...

Tabled by

Baroness Hayman

167: After Clause 117, insert the following new Clause—

“Clarification of pension scheme investment duties

(1) In section 36 of the Pensions Act 1995 (choosing investments), after subsection (9) insert—

“(10) In complying with requirements imposed by this section and regulations, a trustee or manager must have regard to guidance prepared...

Tempting though it is to reinitiate the earlier debate, I will not move Amendment 167.

Tempting though it is to reinitiate the earlier debate, I will not move Amendment 167.

Moved by

Baroness Stedman-Scott

169: After Clause 117, insert the following new Clause—

“Review of pension communications and financial promotion rules

(1) The Secretary of State must, within 12 months of the day on which this Act is passed, conduct a review of all legislation, regulation and guidance governing marketing, financial promotion and member...

Moved by

Baroness Stedman-Scott

169: After Clause 117, insert the following new Clause—

“Review of pension communications and financial promotion rules

(1) The Secretary of State must, within 12 months of the day on which this Act is passed, conduct a review of all legislation, regulation and guidance governing marketing, financial promotion and member...

I beg to move.

I beg to move.

Moved by

Lord Sharkey

170: After Clause 117, insert the following new Clause—

“Fossil fuels and climate risk

(1) The Pensions Act 1995 is amended according to subsections (2) and (3).

(2) After section 41B (climate change risk: publication of information), insert—

“41BA Climate change risk and occupational pension schemes: Secretary of State duty

(1) The Secretary...

Moved by

Lord Sharkey

170: After Clause 117, insert the following new Clause—

“Fossil fuels and climate risk

(1) The Pensions Act 1995 is amended according to subsections (2) and (3).

(2) After section 41B (climate change risk: publication of information), insert—

“41BA Climate change risk and occupational pension schemes: Secretary of State duty

(1) The Secretary...

My Lords, I will speak to Amendment 170 in my name and those of the noble Baronesses, Lady Bennett, Lady Griffin and Lady Hayman. I am grateful for their support and look forward to hearing their contributions. I have reflected carefully on the helpful feedback I received from the Minister...

My Lords, I will speak to Amendment 170 in my name and those of the noble Baronesses, Lady Bennett, Lady Griffin and Lady Hayman. I am grateful for their support and look forward to hearing their contributions. I have reflected carefully on the helpful feedback I received from the Minister...

My Lords, I have added my name to Amendment 170 and will speak briefly in support. The noble Lord, Lord Sharkey, has comprehensively set out the amendment and, following very helpful feedback from my noble friend the Minister, I will simply respond to a few points which were made by...

My Lords, I have added my name to Amendment 170 and will speak briefly in support. The noble Lord, Lord Sharkey, has comprehensively set out the amendment and, following very helpful feedback from my noble friend the Minister, I will simply respond to a few points which were made by...

My Lords, it is a pleasure to join a distinguished cross-party group, signing and speaking to Amendment 170. Like the noble Lord, Lord Sharkey, I want to reflect back to what was said in Committee, when the Minister said that she shared the cross-party concern about pension scheme investment in...

My Lords, it is a pleasure to join a distinguished cross-party group, signing and speaking to Amendment 170. Like the noble Lord, Lord Sharkey, I want to reflect back to what was said in Committee, when the Minister said that she shared the cross-party concern about pension scheme investment in...

My Lords, I have added my name to this amendment. Given the quality of the speeches that have explained exactly what it would do and its very limited but important purpose—simply to allow the Government to have a proper handle on the data and a proper understanding of the exposure...

My Lords, I have added my name to this amendment. Given the quality of the speeches that have explained exactly what it would do and its very limited but important purpose—simply to allow the Government to have a proper handle on the data and a proper understanding of the exposure...

My Lords, I am grateful to the noble Lord, Lord Sharkey, and the noble Baronesses, Lady Hayman, Lady Griffin and Lady Bennett, for this amendment, and I fully recognise the principle that underpins it. However, we have some reservations about the approach taken here. In particular, we are concerned that...

My Lords, I am grateful to the noble Lord, Lord Sharkey, and the noble Baronesses, Lady Hayman, Lady Griffin and Lady Bennett, for this amendment, and I fully recognise the principle that underpins it. However, we have some reservations about the approach taken here. In particular, we are concerned that...

My Lords, I am grateful to the noble Lord, Lord Sharkey, for moving his Amendment 170. It is good to have the opportunity to discuss again the climate-related risks with which pension

schemes—indeed, all investors—are grappling. While I recognise the intent behind the amendment, the Government believe that the existing...

My Lords, I am grateful to the noble Lord, Lord Sharkey, for moving his Amendment 170. It is good to have the opportunity to discuss again the climate-related risks with which pension

schemes—indeed, all investors—are grappling. While I recognise the intent behind the amendment, the Government believe that the existing...

I thank the Minister for that response, but that probably means in practice that I thank her for the last sentence. Some of the other stuff I found difficult to agree with. I point out that our proposal was to collect data or produce estimates only for the larger schemes...

I thank the Minister for that response, but that probably means in practice that I thank her for the last sentence. Some of the other stuff I found difficult to agree with. I point out that our proposal was to collect data or produce estimates only for the larger schemes...

Moved by

Baroness Sherlock

171: The Schedule, page 158, leave out lines 18 to 20 and insert—

““(da) sections 20, 26 and 28A to 28I of the Pensions Act 2008 (scale and asset allocation),”;”

Member's explanatory statement

This amendment would provide for the Pensions Regulator to issue codes of practice in relation to sections 20,...

Moved by

Baroness Sherlock

171: The Schedule, page 158, leave out lines 18 to 20 and insert—

““(da) sections 20, 26 and 28A to 28I of the Pensions Act 2008 (scale and asset allocation),”;”

Member's explanatory statement

This amendment would provide for the Pensions Regulator to issue codes of practice in relation to sections 20,...

Moved by

Baroness Sherlock

173: Clause 121, page 153, line 35, at end insert—

“(2A) Chapter 2A of Part 4 extends to England and Wales, Scotland and Northern Ireland.”

Member's explanatory statement

This amendment provides for the new Chapter referred to in the explanatory statement for the amendment in the name of Baroness Sherlock to...

Moved by

Baroness Sherlock

173: Clause 121, page 153, line 35, at end insert—

“(2A) Chapter 2A of Part 4 extends to England and Wales, Scotland and Northern Ireland.”

Member's explanatory statement

This amendment provides for the new Chapter referred to in the explanatory statement for the amendment in the name of Baroness Sherlock to...

Moved by

Baroness Sherlock

174: Clause 122, page 154, line 9, at end insert—

“(za) Chapter 1 comes into force on such day as the Secretary of State may by regulations appoint;”

Member's explanatory statement

This amendment would provide for Chapter 1 of Part 2 of the Bill (value for money) to come into force...

Moved by

Baroness Sherlock

174: Clause 122, page 154, line 9, at end insert—

“(za) Chapter 1 comes into force on such day as the Secretary of State may by regulations appoint;”

Member's explanatory statement

This amendment would provide for Chapter 1 of Part 2 of the Bill (value for money) to come into force...

Moved by

Baroness Bowles of Berkhamsted

176: Clause 122, page 154, leave out lines 32 and 33

Moved by

Baroness Bowles of Berkhamsted

176: Clause 122, page 154, leave out lines 32 and 33

Moved by

Baroness Sherlock

177: Clause 122, page 155, line 2, at end insert—

“(9A) Chapter 2A of Part 4 comes into force on the day on which this Act is passed (to the extent this is not already the case as a result of subsection (1)).”

Member's explanatory statement

This amendment provides for commencement...

Moved by

Baroness Sherlock

177: Clause 122, page 155, line 2, at end insert—

“(9A) Chapter 2A of Part 4 comes into force on the day on which this Act is passed (to the extent this is not already the case as a result of subsection (1)).”

Member's explanatory statement

This amendment provides for commencement...

My Lords, I am grateful to the noble Viscount, Lord Thurso, for moving his Amendment 161, and for the conversations that we have had on this and other things. I have a lot of respect for him and the way that he approaches issues, and it has been a pleasure...

My Lords, I am grateful to the noble Viscount, Lord Thurso, for moving his Amendment 161, and for the conversations that we have had on this and other things. I have a lot of respect for him and the way that he approaches issues, and it has been a pleasure...