Pension Schemes (Conversion of Guaranteed Minimum Pensions) Bill

Sally-Ann Hart Excerpts

3rd reading
Friday 25th February 2022 Commons Chamber

[Sally-Ann Hart (Hastings and Rye) (Con)]

I congratulate the hon. Member for Rutherglen and Hamilton West (Margaret Ferrier) on successfully bringing forward this well-considered Bill and for so excellently and comprehensively explaining why we need it.

When the Equal Pay Act gained Royal Assent on 29 May 1970, the House took an all-important step towards ensuring the equal treatment of the sexes in the workplace. It also sent a broader message about the United Kingdom’s societal values. Since the Act’s commencement in 1975, even greater strides have been taken towards ensuring gender equality. However, as I am sure colleagues agree, much work remains to be done to that end.

As lawmakers, we in this House all have a responsibility to strive continuously towards the goal of gender equality through legislation, whether modest, substantial or otherwise, and the Bill can rightly be seen as a means of doing that. Specifically, it will right a historical oversight by making crucial clarifications in relation to guaranteed minimum pensions equalisation and pension schemes.

Madam Deputy Speaker, you can see that I am holding a wonderful speech that I have criss-crossed out because I do not think I need to go through all of that detail—we also have other people who wish to speak and other Bills to consider. However, proposals and methodology brought in during 2016 and 2017 should be secured in relevant regulations, including the positive impact that they would have on the equality of outcome for the sexes. These concerns must be properly addressed in legislation, and that is what the Bill rightly seeks to do. It has also been welcomed by leaders across industry as covering key areas where clarification is most needed, which will make the important process of equalising benefits using GMP conversion easier.

Bearing that positive reception from industry in mind, and given the broader message that it sends about the importance of the equality of the sexes in legislative matters both significant and modest, I strongly welcome the Bill and offer it my wholehearted support.