Pension Schemes Bill

Debate between Manuela Perteghella and Jim Shannon

Report stage
Wednesday 3rd December 2025 Commons Chamber

[Manuela Perteghella (Stratford-on-Avon) (LD)]

I rise to speak to two new clauses that stand in my name. The first is new clause 3, which concerns the use of the special rules for end of life form to ease the burden on people with a terminal illness seeking support from the Pension Protection Fund or the financial assistance scheme; the second is new clause 19, which deals with fossil fuels and climate risk. Those issues are very different in nature, but they share a common thread: both seek to improve the governance, fairness and long-term resilience of our pension system. I will also speak in support of new clause 11, as it seeks to remedy HSBC’s unjust clawback policy that the Midland Clawback Campaign has been fighting against.

New clause 3 concerns terminal illness and the use of the special rules for end of life form, or SR1. This amendment was born out of the experience of one of my constituents, Nigel. Nigel was diagnosed with incurable stage 4 pancreatic cancer. He told me about the issues he faced in providing several forms, applications and other bits of paper to providers just to demonstrate eligibility and his terminal illness. He told me his story and about the hurdles he encountered following his diagnosis, at what was a very stressful time.

[Jim Shannon (Strangford) (DUP)]

I have been contacted by some Members of the Northern Ireland Assembly about this issue—the thresholds in cases where a death occurs unexpectedly or suddenly, or when an illness comes on very quickly. When the Minister sums up at the end, I hope he will address that issue, for the sake of those Northern Ireland Assembly Members who asked me to raise that very question today. The hon. Lady is right; well done to her for highlighting this issue.

Pension Funds

Debate between Manuela Perteghella and Jim Shannon

Wednesday 23rd April 2025 Commons Chamber

[Manuela Perteghella]

My hon. Friend is absolutely right. It is unfair and we need to ensure that HSBC is accountable.

In correspondence with MPs, the bank states that because clawback is lawful, its policy is acceptable, but I say: lawful does not mean just. This Parliament has a duty to act when the law permits injustice. We need to modernise pension legislation to ensure that it reflects today’s values of fairness, transparency and equality. After the WASPI—Women Against State Pension Inequality—pension injustice, we must be alert to further pension scandals.

[Jim Shannon (Strangford) (DUP)]

I commend the hon. Lady for securing the debate. The fact that there are so many hon. Members in the Chamber is an indication of the interest that she has created through her Adjournment debate, so well done to her. There were an estimated 12.95 million state pensioners in Great Britain in 2024-25. As the hon. Lady has said, the WASPI women have been hard done by because of Government decisions made without consideration. There is an onus on all of us in this House to ensure that pension funds are profitable and sustainable. Does the hon. Lady agree that in tandem with enforcing work-based pensions, we must ensure that state pensions can catch up, so that there will still be such a thing as state pensions for the 40-year-olds who are paying their national insurance today, believing that their state pension will be there for them when it comes to the time that they need it?

[Manuela Perteghella]

I thank the hon. Member for raising that important issue. Absolutely, we need to ensure that the Government have a long-term outlook, so that the young working British people of today will be able to retire on a comfortable pension.

We urgently need a full review of pension clawback practices. Many constituents have written to me about other unfair pension schemes, including former police officers and people on occupational pensions that are not protected from inflation.