Member

In conclusion, I thank noble Lords for their constructive interest in these amendments and the development of the VFM framework. It is the Government’s view that the current provisions, including the detail in the consultation and that which I have set out, strike the right balance between flexibility and accountability and allow for sufficient consultation on the technical detail. These provisions are essential for delivering value for money and maintaining public confidence in our pension schemes. I therefore ask the Baroness to withdraw her amendment.