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Full Debate: Read Full DebateStephen Metcalfe
Main Page: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)Department Debates - View all Stephen Metcalfe's debates with the Department for Work and Pensions
(8 years ago)
Commons ChamberWhat is critical is that we get the solution right, which is why we are bringing forward the consultation and why we deferred the local housing allowance cap for supported housing until 2019-20.
We have a well-established regime of checks and balances in place, for example the Pension Protection Fund and the Pensions Regulator. The Government keep this framework for pensions under constant review, and amend it when evidence demonstrates that such change is needed.
As I have stated previously, one of the welcome provisions in the Pensions Act 2014 was the raising of the Pension Protection Fund cap. Will my hon. Friend update the House on when that clause might be implemented, because two years on it has still not been put in place and pensioners in my constituency are suffering the consequences?
Let me first acknowledge the work that my hon. Friend has done to ensure that the long service cap was established. Pensions legislation is, as he knows, a very complex and technical area, and it is important that the secondary legislation for the cap operates as it was intended in all circumstances. This process can take time. However, I can assure him that this has been a priority for me from my first day in office. As I recently announced, I intend the long service cap for the PPF to come into force in April 2017.