Mesothelioma Lump Sum Payments (Conditions and Amounts) (Amendment) Regulations 2021

Lord Bradshaw Excerpts

Wednesday 10th February 2021 Grand Committee

[Lord Bradshaw (LD) [V]]

I first came across mesothelioma in the early 1970s when I was a railway manager in Liverpool. We used to stuff the boilers of locomotives full of asbestos, and of course it became widely known how lethal that was. I pay tribute to the huge efforts that have been made by the trade union movement to bring this matter to prominence. The trade unions often do not get a very good hearing in this House from various quarters, but this is a circumstance in which membership of a trade union is essential, when something like this comes across the horizon.

Could the Minister give us some idea of how many new cases are coming to light and whether there is any knowledge of which industries these come from? It would be comforting to know that this is one of the things which is getting better rather than worse.

Pension Schemes Bill [HL]

Lord Bradshaw Excerpts

Report stage & Report stage (Hansard) & Report stage (Hansard): House of Lords
Tuesday 30th June 2020 Lords Chamber

[Baroness Neville-Rolfe [V]]

My Lords, I have little to add, but I very much agree with ensuring that

“the closure of schemes that are expected to remain open to new members, either indefinitely or for a significant period of time, is not accelerated”,

to quote from the amendment. I look forward to hearing from the Minister on how he can meet the House’s concerns.

[Lord Bradshaw (LD) [V]]

My Lords, I too welcome this amendment in the name of my noble friend Lady Bowles to help keep open defined benefit schemes. This is to be applauded, as I believe that they are in the best interests not just of their members but of wider society. Open defined benefit schemes assist UK plc over the long term and reduce the potential burden on the state from inadequate pension provision.

As we have heard, the genesis of this Bill dates back to corporate failures such as Carillion and BHS. It is right that the Government look to address the shortcomings that led to these failures and the losses that members of those schemes unfortunately suffered—but it is important to learn the right lessons. BHS and Carillion were fundamental examples of pension schemes brought down by a failure of corporate governance to manage those companies properly, not of companies brought down by a failure to manage their pension schemes.

Like other noble Lords, I understand the Pensions Regulator seeking to protect members’ benefits, but it should look at defined benefit schemes, because they look to the future. They do not just look in the rear- view mirror but have a much wider responsibility to act in the best interests of all members—past, present and future.

Any moves to significantly reduce those returns by forcing schemes that remain open to new members to start investing in line with the risk profile of closed schemes will have unintended consequences. I shall certainly support the noble Baroness, Lady Bowles, if she decides to call a Division.