Pension Protection Fund and Pensions Regulator

Lord Cormack Excerpts

Thursday 13th July 2017 Lords Chamber

[Baroness Buscombe]

My Lords, as the noble Lord will know, the Green Paper covered four key areas: funding and investment, employer contributions and affordability, member protection, and consolidation of schemes. It looked to examine and build on the discussion already taking place on what, if anything, should be done to ensure that the system remains sustainable while ensuring that members’ benefits are protected. It is really important to say that issues such as powers to block certain mergers and acquisitions should be thought through extremely carefully, not least because we want to ensure that any changes to the powers of the regulator do not trigger unintended consequences and act as an impediment to business and growth.

[Lord Cormack (Con)]

My Lords, my noble friend talked of the “near future”—is that soon, or shortly?

[Baroness Buscombe]

That will be shortly.