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Work and Pensions Committee
The deadline for submissions was Friday 18 May 2018. If you would like to submit a late submission please contact committee staff.
The Committee has launched a new inquiry into the long-awaited White Paper Protecting defined benefit pension schemes (Cm 9591), published on 19 March 2018. Following the Committee's Defined Benefit Pension Schemes report, the inquiry aims to inform and influence the planned consultation on the White Paper’s various proposals.
In the White Paper the Government adopts the Committee's key recommendation: strengthening TPR's main anti-avoidance power (the issuance of Contribution Notices) by enabling TPR to issue punitive fines to punish "irresponsible activities" that cause material detriment to a pension scheme.
The Government says it will make it a criminal offence "to have committed wilful or grossly reckless behaviour in relation to a pension scheme" – although the details of this offence are unclear. TPR will also be granted enhanced investigative and information-gathering powers.
Evidence given by Yvonne Braun, Director of Policy, Long Term Savings and Protection, Association of British Insurers , Baroness Jeannie Drake, pension scheme trustee and Governor, Pensions Policy Institute, Helen Miles, Squire Patton Boggs, LLP , and Bob Scott, outgoing Chair, Association of Consulting Actuaries and senior partner at Lane Clark & Peacock ; Oliver Morley, Chief Executive, and Sara Protheroe, Chief Customer Officer, Pension Protection Fund (at 10.15am).
There are currently no public meetings scheduled.
Work and Pensions Committee takes evidence from stakeholders and experts