Member

Can the Minister also clarify the Government’s position on a subject of much speculation, the “not materially adverse” test regarding pension surplus extraction, and explain how it ensures that surplus withdrawals do not jeopardise the financial security of pension schemes or undermine the legitimacy and the right of trustees in safeguarding the interests of their members? How do the Government define “not materially adverse”? The term is, as I am sure she agrees, rather subjective.