Member

My Amendment 31 is a probing amendment, intended to seek clarity about the scope of the powers being taken in Clause 10 and, in particular, the level of parliamentary scrutiny that will apply to them. Clause 10 makes significant changes to Section 37 of the Pensions Act 1995. As drafted, it places the conditions under which surplus may be paid to an employer almost entirely in regulations, with only limited constraints in the Bill. Although we recognise the need for flexibility, surplus release is a sensitive issue for members and employers alike. How these conditions are set and subsequently amended therefore matters a great deal.