Defined-benefit Pension Schemes
Debate between Philip Hollobone and Julian Knight(7 years, 5 months ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Julian Knight
I apologise. We were so rudely interrupted by the Liberal Democrats.
The effective remodelling of these almost-zombie DB schemes could be a means by which we ostensibly kick-start a different approach to social care and allow people to choose whether to supplement their social care in the long term by actively deciding to put away a certain amount of pension in order to receive a certain amount of social care insurance. There are all sorts of options for that.
I conclude by saying that the Green Paper and White Paper were refreshing and thoughtful. We have an opportunity to do something that the Turner report did not do—it dealt mostly with public finances and the state pension—which is to shift the balance and the focus on to private sector workplace pension schemes. We need them to play a role, but we also need to repair the problems of the past.
Mr Philip Hollobone (in the Chair)
We now come to the first of the Front-Bench speeches. The new finish time for the debate, because of the Division, is 5.40 pm.
Oral Answers to Questions
Debate between Philip Hollobone and Julian Knight(7 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Philip Hollobone (Kettering) (Con)
Julian Knight (Solihull)
I have been asked to reply on behalf of the Chairman of the Public Accounts Commission.
The National Audit Office’s investigation published in March 2018 sets out factually the sequence of events leading up to the Department for Transport’s announcement in July 2017, cancelling the three electrification projects in response to concerns raised about the decision-making process. As such, the majority of the report is focused on the period up to, and including, July 2017 when the Department announced its decision. The investigation also considered the Department’s assessment of the subsequent impact of its decision on promised benefits. The facts in the report were agreed by the Department and reflect evidence that was provided to the NAO.
Mr Hollobone
I congratulate the National Audit Office on its report, but why did the investigation not seek to evaluate either the value for money of the projects or the decision to cancel?