UK Parliament / Open data

Pensions Bill

Proceeding contribution from Lord Skelmersdale (Conservative) in the House of Lords on Tuesday, 7 October 2008. It occurred during Debate on bills on Pensions Bill.
My Lords, we are talking—or at least the Minister is—about a situation in which we have 100 per cent, perfect, super-duper administration. The Minister said—and I wrote this down—that the current thinking was that some 30 per cent of the 6.5 million people of whom he has been talking are believed to be likely to opt out. That is around 2 million people. If 2 million amounts of cash are floating around, that represents 4 million repayments, does it not? To achieve that within a short period is beyond possibility. However, I shall not press the amendment as I was asking whether the Government had any intention of paying back any interest earned on that money. The answer is no and I am content, for the moment, to live with that, but I cannot promise that I shall be content for very much longer. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. Clause 9 [Workers without qualifying earnings]:

About this proceeding contribution

Reference

704 c145-6 

Session

2007-08

Chamber / Committee

House of Lords chamber

Legislation

Pensions Bill 2007-08
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