B

Baroness Altmann (Non-Afl)

Speaking in the House of Lords on 26 January 2026

Debate

Pension Schemes Bill

Contribution

I thank the Minister for her constructive engagement on these issues. There is something slightly missing here because, if one consults before this approach enters the market, one will not know that that might be the appropriate approach. Indeed, the providers that one would consult will not necessarily recommend more than one approach, because that does not necessarily suit their business interests, and members will not know what it is because by definition they are not particularly engaged. I am trying to address this issue and I very much appreciate that the Minister is engaging constructively and has listened carefully. Perhaps we can continue this at some point. This would be a very small change to the Bill; it would not stop the unsuitable dispersion of numerous different legacy funds from being consolidated, but it would potentially stop these new approaches entering the market. That is the concern. I beg leave to withdraw my amendment.

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