"My Lords, I thank the Minister for introducing these orders in her usual detail. I will speak to both: the draft Social Security Benefits Up-rating Order 2026 and the draft Guaranteed Minimum Pensions Increase Order 2026. Although they are being debated together today, they are fundamentally different instruments raising distinct …..." Baroness Stedman-Scott - View Speech
"I appreciate the noble Lord’s intervention. I will read Hansard. We will write to the noble Lord and start some correspondence on that issue. I appreciate the points made by the noble Lord. Everybody knows that he knows what he is talking about and that he is well versed …..." Baroness Stedman-Scott - View Speech
"My Lords, it is a pleasure to close this debate and respond to the remarks of the noble Lord, Lord Palmer, on his Amendment 184. I am grateful to him for raising this issue, because it goes to the heart of how we ensure that pension reform delivers better outcomes …..." Baroness Stedman-Scott - View Speech
"My Lords, recent analysis shows that in 2025-26 the real cost of hiring an 18 to 20 year-old on the minimum wage has risen by around 13% compared with just over 3% for someone on average earnings, despite under-21s largely being outside employer national insurance contributions. In light of this, …..." Baroness Stedman-Scott - View Speech
"My Lords, this group concerns the proposed transfer of the AWE pension scheme into a new public sector pension arrangement, as set out after Clause 110 in government Amendments 194 to 202, with the associated measures on extent and commencement in government Amendments 223 and 224.
"My Lords, the amendments in this group in the name of the noble Baroness, Lady Bowles, are thoughtful and proportionate. They raise genuinely important questions about how we can future-proof the operation of the Pension Protection Fund.
"My Lords, I will speak first to my Amendment 204. I make clear that this amendment does not require trustees to invest in any particular asset class, nor does it seek to redefine or dilute fiduciary duty in any way. Those safeguards are explicit in the amendment. Trustees must always …..." Baroness Stedman-Scott - View Speech
"My Lords, I shall conclude briefly. I hope that it is clear from the discussion this afternoon that there is a shared concern across the Committee to see pension schemes operate responsibly, prudently and in the best long-term interests of their members. Where we differ is on how that objective …..." Baroness Stedman-Scott - View Speech
"My Lords, it is a pleasure to open this debate on behalf of my noble friend Lady Scott of Bybrook.
Noble Lords from across the Grand Committee and indeed the House will be aware that the pensions Bill is currently in Committee and that the first two days of scrutiny …..." Baroness Stedman-Scott - View Speech