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I am grateful to the commissioners for the detailed analysis contained in this report. I anticipate their final report on the programme in September which will review the implementation of the programme as a whole.
Pensions
The Parliamentary Under-Secretary of State, Department for Work and Pensions (Lord McKenzie of Luton): My honourable friend the Minister of State for Work and Pensions (James Purnell) has made the following Statement.
On 13 December 2006 the Government appointed Chris Lewin and Ed Sweeney as external reviewers to the deregulatory review of private pensions legislation. The purpose of the review—initially announced in the May 2006 pensions White Paper—is to simplify the private pensions regulatory framework and to reduce regulatory burdens, bearing in mind the need to strike a balance between protecting members’ benefits and encouraging employer provision of pensions.
I am pleased to advise the House that Chris Lewin and Ed Sweeney today published a consultation paper with an invitation for contributions by 6 April.
A copy is in the House Library. The document sets out the emerging issues and evidence presented so far, with the aim of encouraging further discussion and building consensus on the way forward. I encourage stakeholders to contribute: it is vital that any changes which emerge from the deregulatory review strike a balance between member protection and encouraging employer provision of pensions. The consultation paper will be available on the department’s pensions reform internet site later today. Chris Lewin and Ed Sweeney will report to Ministers with recommendations by spring 2007.
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