To ask the Chancellor of the Exchequer, with reference to the UK Asset Resolution Annual Report and Accounts 2025-2026, published 19 August 2026, what proportion of the assets in each of the (a) NRAM and (b) B&B funded defined benefit pension schemes are held in UK equities.

To ask the Chancellor of the Exchequer, with reference to the UK Asset Resolution Annual Report and Accounts 2025-2026, published 19 August 2026, what proportion of the assets in each of the (a) NRAM and (b) B&B funded defined benefit pension schemes are held in UK equities.

The Public Service Pensions and Judicial Offices [HL] Bill has been through its House of Lords stages and had its second reading in the House of Commons on 5 January 2022. The Bill was considered by a Public Bill Committee over two sittings on 27 January 2022.

The Public Service Pensions and Judicial Offices [HL] Bill has been through its House of Lords stages and had its second reading in the House of Commons on 5 January 2022. The Bill was considered by a Public Bill Committee over two sittings on 27 January 2022.

Public Service Pensions and Judicial Offices Bill [Lords]

The following is an extract from Second Reading of the Public Service Pensions and Judicial Offices Bill [ Lords ] on 5 January 2022.

The shadow Work and Pensions Minister asked for clarity on the issues around the ceiling breaches and so on. As...

Public Service Pensions and Judicial Offices Bill [Lords]

The following is an extract from Second Reading of the Public Service Pensions and Judicial Offices Bill [ Lords ] on 5 January 2022.

The shadow Work and Pensions Minister asked for clarity on the issues around the ceiling breaches and so on. As...

Clauses 99 to 109 agreed to, with clauses 104 and 106 agreed to as amended. Schedule 1 agreed to, with an amendment. Clause 110 agreed to. Schedule 2 agreed to. Clause 111 agreed to. Schedule 3 agreed to. Clauses 112 to 116 agreed to. Schedule 4 agreed to. Clauses 117 to 120 agreed to, with clauses 117, 119 and 120 agreed to as amended. New clause 1 (Amendments relating to employer cost cap) agreed to. New clause 2 (Operation of employer cost cap in relation to 2016/17 valuation) agreed to on division (10 to 6). New clause 3 (Meaning of “remediable service”) agreed to. New clause 4 (Power to pay final salary benefits) agreed to. New clause 5 (Section (Power to pay final salary benefits): transitional provision) agreed to. New clause 6 (Pension credit members) agreed to. New clause 7 (Further powers to make provision about special cases) agreed to. New clause 8 (Power to pay compensation) agreed to. New clause 9 (Indirect compensation) agreed to. New clause 10 (Interest and process) agreed to. New clause 11 (Treasury directions) agreed to. New clause 12 (Interpretation of Chapter) agreed to. New clause 13 (Amendments relating to pension schemes for members of the Senedd) agreed to. New clause 14 (Compensation of losses incurred by closure of legacy schemes) negatived on division (6 to 10). Bill, as amended, to be reported (Bill 241). Written evidence reported to the House.

Clauses 99 to 109 agreed to, with clauses 104 and 106 agreed to as amended. Schedule 1 agreed to, with an amendment. Clause 110 agreed to. Schedule 2 agreed to. Clause 111 agreed to. Schedule 3 agreed to. Clauses 112 to 116 agreed to. Schedule 4 agreed to. Clauses 117...

I beg to move, That the Bill be now read a Second time.

Our public servants do so much to support this country, and over the past 22 months their efforts have been more vital than ever before. NHS employees have worked long hours on the frontline of the fight against...

I beg to move, That the Bill be now read a Second time.

Our public servants do so much to support this country, and over the past 22 months their efforts have been more vital than ever before. NHS employees have worked long hours on the frontline of the fight against...

I recognise my hon. Friend’s considerable expertise on this issue. I thank him for making that point, which is well worth our taking away. I will certainly commit myself to returning to him following any further discussions if that would be helpful.

Let me finally deal with the measures to establish...

I recognise my hon. Friend’s considerable expertise on this issue. I thank him for making that point, which is well worth our taking away. I will certainly commit myself to returning to him following any further discussions if that would be helpful.

Let me finally deal with the measures to establish...

It is a pleasure to respond to the Chief Secretary’s opening speech. I begin by wishing you, Madam Deputy Speaker, and Members on both sides of the House a very happy new year.

Pensions are a very important part of workers’ overall pay package. It is in the interests of individuals...

It is a pleasure to respond to the Chief Secretary’s opening speech. I begin by wishing you, Madam Deputy Speaker, and Members on both sides of the House a very happy new year.

Pensions are a very important part of workers’ overall pay package. It is in the interests of individuals...

I am grateful for the opportunity to close the debate on behalf of the Opposition. As my right hon. Friend the Member for Wolverhampton South East (Mr McFadden) said, we do not oppose this important Bill—indeed, I welcome the serious debate that has taken place this evening—but we will continue...

I am grateful for the opportunity to close the debate on behalf of the Opposition. As my right hon. Friend the Member for Wolverhampton South East (Mr McFadden) said, we do not oppose this important Bill—indeed, I welcome the serious debate that has taken place this evening—but we will continue...

Second reading. Agreed to on question. Programme motion on committal, proceedings in Public Bill Committee, consideration and third reading, and other proceedings. Agreed to on question. Money resolution. Queen's recommendation signified. Agreed to on question. Ways and means resolution. Agreed to on question.

Second reading. Agreed to on question. Programme motion on committal, proceedings in Public Bill Committee, consideration and third reading, and other proceedings. Agreed to on question. Money resolution. Queen's recommendation signified. Agreed to on question. Ways and means resolution. Agreed to on question.

The Minister will know that some of us have received correspondence from constituents suggesting, probably on the advice of their unions, that they will lose up to £500 a year when pensioned as a result of these changes. Can he confirm whether this is true? If it is not, what...

The Minister will know that some of us have received correspondence from constituents suggesting, probably on the advice of their unions, that they will lose up to £500 a year when pensioned as a result of these changes. Can he confirm whether this is true? If it is not, what...

I thank my hon. Friend for his question; it is a good one. It is important to provide reassurance on this point. The McCloud remedy aims to ensure that where pension members are offered a different benefit to remedy the discrimination they have faced, they will be returned to the...

I thank my hon. Friend for his question; it is a good one. It is important to provide reassurance on this point. The McCloud remedy aims to ensure that where pension members are offered a different benefit to remedy the discrimination they have faced, they will be returned to the...

I entirely support what the Minister says about judicial pensions reform, but, since he wears another hat in his capacity as Chief Secretary to the Treasury, may I raise a further issue that is sometimes an impediment to recruitment, namely the operation of the lifetime cap on pensions earnings? In...

I entirely support what the Minister says about judicial pensions reform, but, since he wears another hat in his capacity as Chief Secretary to the Treasury, may I raise a further issue that is sometimes an impediment to recruitment, namely the operation of the lifetime cap on pensions earnings? In...

As Chair of the Justice Committee, my hon. Friend brings a huge amount of expertise to bear on this issue. I can make an absolute commitment that we will look at this, and I will always discuss plausible options to ensure that the judicial pension scheme supports recruitment rather than...

As Chair of the Justice Committee, my hon. Friend brings a huge amount of expertise to bear on this issue. I can make an absolute commitment that we will look at this, and I will always discuss plausible options to ensure that the judicial pension scheme supports recruitment rather than...

If this were to be reviewed, it would be worth noting that a very similar issue applies to doctors, many of whom are inhibited from returning to work—following the appeal from the Health Secretary—by precisely the same lack of flexibility on the pensions and earnings issue.

If this were to be reviewed, it would be worth noting that a very similar issue applies to doctors, many of whom are inhibited from returning to work—following the appeal from the Health Secretary—by precisely the same lack of flexibility on the pensions and earnings issue.

Thank you, Madam Deputy Speaker, for calling me first in the debate. I am delighted to make a contribution to the Second Reading of a Bill that was very much part of the work that I undertook as Lord Chancellor. I was keen to make sure that we made progress...

Thank you, Madam Deputy Speaker, for calling me first in the debate. I am delighted to make a contribution to the Second Reading of a Bill that was very much part of the work that I undertook as Lord Chancellor. I was keen to make sure that we made progress...

Can I perhaps reinforce my right hon. and learned Friend’s point? He may have noted from the statistics released by the Judicial Appointments Commission that there has been a particular shortfall in

appointments to the district bench and the circuit bench in recent rounds. Those are precisely the people for...

Can I perhaps reinforce my right hon. and learned Friend’s point? He may have noted from the statistics released by the Judicial Appointments Commission that there has been a particular shortfall in

appointments to the district bench and the circuit bench in recent rounds. Those are precisely the people for...

My hon. Friend makes a really powerful point. There is no doubt that the district bench is under huge pressure at the moment. We are not getting the recruits and the applications that we need in order to have a full district bench. The work is some of the most...

My hon. Friend makes a really powerful point. There is no doubt that the district bench is under huge pressure at the moment. We are not getting the recruits and the applications that we need in order to have a full district bench. The work is some of the most...

I begin by wishing a somewhat belated bliadhna mhath ùr—happy new year—to you, Mr Deputy Speaker, and to colleagues. I include in that colleagues across the House who would have had something positive to contribute to tonight’s proceedings, or to the proceedings earlier in the day, but have been prevented...

I begin by wishing a somewhat belated bliadhna mhath ùr—happy new year—to you, Mr Deputy Speaker, and to colleagues. I include in that colleagues across the House who would have had something positive to contribute to tonight’s proceedings, or to the proceedings earlier in the day, but have been prevented...

I welcome the Bill and I am pleased to make a few brief comments. Like my right hon. and learned Friend the Member for South Swindon (Sir Robert Buckland), I was involved in its preparation and followed the consequences of the McCloud judgment as a Treasury Minister and as Secretary...

I welcome the Bill and I am pleased to make a few brief comments. Like my right hon. and learned Friend the Member for South Swindon (Sir Robert Buckland), I was involved in its preparation and followed the consequences of the McCloud judgment as a Treasury Minister and as Secretary...

I have to give it to the right hon. Member for Newark (Robert Jenrick) for his ability to describe possibly one of the most inflammatory amendments that we shall consider in this House as a modest technical amendment—but there you are. I am sure we will come back to that...

I have to give it to the right hon. Member for Newark (Robert Jenrick) for his ability to describe possibly one of the most inflammatory amendments that we shall consider in this House as a modest technical amendment—but there you are. I am sure we will come back to that...