New Clause 14 - Compensation of losses incurred by closure of legacy schemes

Part of Public Service Pensions and Judicial Offices Bill [Lords] – in a Public Bill Committee am 2:30 pm ar 27 Ionawr 2022.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Simon Clarke Simon Clarke The Chief Secretary to the Treasury 2:30, 27 Ionawr 2022

I thank the hon. Members for their comments and questions. I entirely echo what the hon. Member for Reading East said about the debt we owe to our police and fire services. Collectively, they are perform enormous public service and we are all in their debt.

We have concerns about the wording of the new clause, particularly where it says that a loss “could be compensated,” implying that compensation should be paid. We are concerned that that creates an expectation on Government.

The Home Office, as the responsible Department, is leading a genuine consultation process about the police pensions services. It will bring forward the outcome of that consultation in due course. To address the issue at this point would fall outside my remit and the remit of this Bill.