This week the new pensions bill had a second reading in the House of Commons, the first opportunity for members of parliament to debate its main principles.

Not a huge amount of MPs took up the offer to debate with pensions minister Steve Webb on his vision for the future of pensions: 

 

"The pension schemes bill will improve the system in two ways," said Webb. "It will give people much greater flexibility on how and when they access their savings, and it will enable innovation in the pensions industry, to better meet the needs of businesses and individuals.”

The minister answered questions on how small and medium-sized companies would be incentivised to implement defined ambition schemes and how these schemes would be regulated.

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