Work and Pensions

Thursday 17th June 2021 Ministerial Corrections

Compensation (London Capital & Finance plc and Fraud Compensation Fund) Bill

The following is an extract from proceedings in the second sitting of the Compensation (London Capital & Finance plc and Fraud Compensation Fund) Public Bill Committee on 15 June.

[Guy Opperman]

I already meet NEST and the People’s Pension regularly, and they have made a very good pitch for a reduced levy. It is already a reduced levy, as I am sure the hon. Gentleman is aware, and there is already a 0.75% cap, but of course I am looking forward to meeting them as part of the ongoing consultation.

[Official Report, Compensation (London Capital & Finance plc and Fraud Compensation Fund) Public Bill Committee, 15 June 2021, c. 60.]

Letter of correction from the Under-Secretary of State for Work and Pensions, the hon. Member for Hexham (Guy Opperman):

An error has been identified in my intervention on the hon. Member for Reading East (Matt Rodda).

The correct contribution should have been:

[Guy Opperman]

I already meet NEST and the People’s Pension regularly, and they have made a very good pitch for a reduced levy. It is already a reduced levy, as I am sure the hon. Gentleman is aware, and there is already a 30p cap, but of course I am looking forward to meeting them as part of the ongoing consultation.