Member

I shall speak to Amendments 172 and 173 together. Amendment 172 would require pension scheme members to be informed before their automatic enrolment default fund becomes subject to mandation and to be presented with alternative funds alongside comparable value-for-money information, while Amendment 173 would ensure that mandation powers may not be exercised until a value-for-money framework has been published and approved by Parliament. In my view, the Government have underplayed the extent to which a robust and transparent value-for-money framework could drive improvement across the pensions market without recourse to compulsion—a subject of much debate.