Work and Pensions

Monday 12th January 2026 Written Corrections

Pension Schemes Bill

The following extracts are from the Report stage of the Pension Schemes Bill on 3 December 2025.

[Torsten Bell]

Government amendments 55 to 86 relate to clauses 100 and 107 of the Bill, on the validity of certain alterations to salary-related contracted-out pension schemes—more often referred to as the Virgin Media case.

[Official Report, 3 December 2025; Vol. 776, c. 1042.]

Written correction submitted by the Under-Secretary of State for Work and Pensions, the hon. Member for Swansea West (Torsten Bell):

[Torsten Bell]

Government amendments 55 to 86 relate to clauses 100 to 107 of the Bill, on the validity of certain alterations to salary-related contracted-out pension schemes—more often referred to as the Virgin Media case.

[Torsten Bell]

The Budget last week confirmed the transfer of the full £2.5 billion-worth of reserves.

[Official Report, 3 December 2025; Vol. 776, c. 1042.]

Written correction submitted by the Under-Secretary of State for Work and Pensions, the hon. Member for Swansea West (Torsten Bell):

[Torsten Bell]

The Budget last week confirmed the transfer of the full £2.3 billion-worth of reserves.

[Torsten Bell]

The hon. Member for Caerfyrddin (Ann Davies) asked how many people will benefit from the change to the PPF indexation and how many will not benefit. The answer is that 250,000 members will benefit and 90,000 will not benefit, because their schemes did not provide for indexation in the scheme rules in the first place. I hope that answers the question she raised.

[Official Report, 3 December 2025; Vol. 776, c. 1081.]

Written correction submitted by the Under-Secretary of State for Work and Pensions, the hon. Member for Swansea West (Torsten Bell):

[Torsten Bell]

The hon. Member for Caerfyrddin (Ann Davies) asked how many people will benefit from the change to the PPF indexation and how many will not benefit. The answer is that over 250,000 members will benefit and up to 90,000 may not benefit, because their schemes did not provide for indexation in the scheme rules in the first place. I hope that answers the question she raised.