House of Lords halts Pensions Bill - papers 9th July

Baroness Hollis of Heigham, Minister for the Department for Work and Pensions in the Lords, told the house: “We are sympathetic to concerns over the clauses and will be looking at them over the summer in consultation with industry groups.” The rethink will allow the Government to redraft sections 35, 39 and 40 of the Bill, which are intended to punish executives who intentionally dodge their responsibilities to the company pension scheme. Government ministers dismissed industry concerns about these clauses two months ago, which could force innocent company directors, shareholders and ...