M

Member

Speaking in the House of Lords on 5 February 2026

Debate

Pension Schemes Bill

Contribution

I understand that in this instance there is MoD underwriting for the scheme: could that be confirmed? Does this mean that all discretionary benefits will be honoured equally, as they might have been under the previous scheme? If something is to be at least as good, we must expect that the discretionary benefits will be as good. If in some way the funding base is not as good, then a different kind of discretionary decision might apply. I hope that the Minister can say that “at least as good” means what we think it means in common parlance. If it is not, then we ought to have more time to think about the details of these amendments.

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