Draft Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations 2021

Matt Rodda Excerpts

Tuesday 7th September 2021 General Committees

[Matt Rodda (Reading East) (Lab)]

We are told that this instrument seeks to increase the requirements placed on trustees of occupational defined benefit schemes in order to require trustees of some schemes to disclose investment returns and demonstrate value for members. It also aims to increase flexibility by altering the rules on the charge cap and other technical changes.

As my colleagues in the other place set out yesterday, we understand that the proposed changes are designed to enable and encourage DC schemes to invest in a broader range of assets, including private equity and venture capital, the theory being that that will benefit the British economy and indeed the interest of pension scheme members. I am told, however, that the Government have been lobbied heavily by the private equity sector on this matter. Given the pressure on time, and the issues being discussed in the Chamber, I ask the Minister whether I may write to him to explore some of the more detailed issues within the regulations.

[Guy Opperman]

I would be happy to write to the hon. Gentleman in full detail in response to any and every question that he wishes to raise.

[Matt Rodda]

Thank you.