Peers welcome pensions bill but question government powers

The debate, held yesterday (28 January), saw peers approve the proposed legislation, welcoming its provisions on defined benefit (DB) funding, regulator powers, and collective defined contribution (CDC) schemes. Yet, several questioned the number of clauses allowing matters to be deferred to the work and pensions secretary, Thérèse Coffey, to be passed with secondary legislation. Liberal Democrat Lord Sharkey noted that the first part of the legislation, which runs to 41 pages, contained 39 instances where Coffey could make delegated legislation. "I recognise that pensions legislat...