16:14 Guy Opperman [V] (Totnes) (Con)

The shadow Minister raised a number of issues in respect of DB support, climate change and pension scams. Clauses 123, 124 and 125 of the Pension Schemes Bill take forward those three issues. We have set out, both in the White Paper and in the legislation, the extensive work that we are doing to support DB on an ongoing basis, and I have worked extensively over the last three to four months with many of the proponents of open DB schemes and many of the organisations that wish to continue the support. We have also worked very hard with the Pensions Regulator, and that work continues on an ongoing basis.

The shadow Minister is right to raise climate change as a vital issue. We believe that we have made pensions safer, better and greener. The clause 124 regulations will be forthcoming. Indeed, we have already brought forward the response to the consultation in respect of the taskforce on climate-related financial disclosures, which makes us the world’s first country to legislate for TCFD in respect of climate change and pensions.

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