The Pension Schemes Bill, which includes rules for pension dashboards and new powers for the Pensions Regulator, has cleared its first hurdle in the House of Lords.

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The bill, originally announced in the October Queen’s Speech, will now pass into the House of Commons where MPs will debate its measures before it receives Royal Assent and is written into law.

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The Pensions Schemes Bill was reintroduced to the House of Lords at the beginning of this year (January 7) after the December general election delayed its debate in parliament.

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It was then halted once again due to the government’s commitment to hurry through emergency health legislation to combat the effects of coronavirus. Minister for pensions and financial inclusion Guy Opperman welcomed today’s progress, saying he was looking forward to “guiding it through the House of Commons”.

Mr Opperman said: “With this bill, we’re pushing ahead with our innovative and ambitious pensions agenda, one that delivers for the record numbers of people saving for retirement.

“This government has already taken a leading global role in tackling climate change and cutting emissions. The measures introduced through this bill will help towards protecting the planet and contribute to long-term member outcomes.

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