Pension Schemes Bill

Baroness Wheeler Excerpts
Monday 12th January 2026

(1 day, 9 hours ago)

Grand Committee
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
I am not against pooling in principle, but I spent 20 years—
Lord Fuller Portrait Lord Fuller (Con)
- Hansard - - - Excerpts

I am coming to a conclusion. I spent 20 years at the coalface with some of the brightest and smartest professionals from around the world. If we persist with subsections (2) to (8), we will be further in hock to a Treasury that has demonstrated that it does not understand the interplay between revenue and capital, or the underlying principles of a capitalist economy. If it ain’t broke, don’t fix it. Now is not the time to meddle in the LGPS.