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Lord Davies of Brixton (Lab)

Speaking in the House of Lords on 20 April 2026

Debate

Pension Schemes Bill

Contribution

I note that my noble friend the Minister went out of her way to mention pre-1997 increases, even though they do not come up in any of these amendments. The House will welcome future increases being paid, but the failure to do anything about lost increases is still a big topic that is not going away. I share many of the concerns about small pots expressed by the noble Baroness, Lady Altmann, on Motion D1. However, I was reassured by the comments that my noble friend the Minister made in introducing this group about the flexibility inherent in the proposals in the Bill. I hope she will reassure us that the issue will be kept under review and that, if the problems that some of us worry about arise, the necessary action can be taken without the need for primary legislation. I also support the concerns of the noble Viscount, Lord Thurso. I am glad to hear that the issue is being taken forward—more power to his elbow. I could speak at great length on the issue of Motion J1, picking up the points raised by the noble Baroness, Lady Neville-Rolfe, in her speech introducing it. However, I very much welcome what my noble friend said in introducing this group. I fully agree with all the arguments she made, so I will leave it there.

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