Schedule 10 - Funding of defined benefit schemes

Pension Schemes Bill [Lords] – in a Public Bill Committee am 12:00 pm ar 5 Tachwedd 2020.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Amendment proposed: 18, in schedule 10, page 185, line 29, at end insert—

“221C  Guiding Objectives

(1) In exercising any powers to make regulations or otherwise to prescribe any matter of principle under this Part, the objectives of the Secretary of State must include—

(a) supporting the ability of the trustees of a relevant scheme to decide the funding and investment strategy for the scheme taking into account the current and future maturity and liquidity of the relevant scheme consistent with the trustees’ duty to invest assets in the best interests of members and beneficiaries; and

(b) avoiding the specification of requirements in relation to funding and investment strategies that are likely to accelerate the closure of relevant schemes.

(2) In subsection (1), “relevant scheme” means an occupational pension scheme that is not near significant maturity and is open to new members and is reasonably expected to remain so, either indefinitely or for a significant period of time.”—

Question put, That the amendment be made.

Rhif adran 10 Pension Schemes Bill [Lords] — Schedule 10 - Funding of defined benefit schemes

Ie: 6 MPs

Na: 9 MPs

Ie: A-Z fesul cyfenw

Na: A-Z fesul cyfenw

The Committee divided: Ayes 6, Noes 9.

Question accordingly negatived.

Schedule 10 agreed to.