Pension Schemes Act 2026

UK Parliament · Public Bill · No. 3982
Pension Schemes Act 2026
[As Introduced]
A
BILL
to
A Bill to make provision about pension schemes; and for connected purposes.
See full bill →
Presented by Liz Kendall
supported by Baroness Sherlock.
✓ Passed into lawPublicCommonsRoyal Assent

Official Ballot · opengovt

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Open Govt visitors' votes1,365 votes

23% Aye · 30877% No · 1,057

Votes cast on this site by visitors who chose to vote. They are not a poll of the public.

MPs' votePassed without division

No division called, Third Reading carried on the voices.

How the Lords voted

20 formal votes in the House of Lords on this bill, newest first.

These are the occasions when peers formally divided and every vote was recorded. Most decisions in the Lords, including on many amendments, are agreed without a recorded vote, so they do not appear here.

27 April 2026Government defeated
Baroness Bowles of Berkhamsted moved Motion A1, as an amendment to Motion A, to leave out from “House” to end and insert “do insist on its Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88, do insist on its disagreement to Commons Amendments 88A, 88C and 88E to 88P and do disagree with the Commons in their Amendments 88R to 88W to the words restored to the Bill by the Commons disagreement to Lords Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88.”
Peers' vote326 peers
Content · 197Not content · 129
Conservative 144 content, 0 not content · Labour 0 content, 125 not content · Liberal Democrat 39 content, 0 not content · Crossbench 8 content, 0 not content · Non-affiliated 3 content, 3 not content · Ulster Unionist Party 2 content, 0 not content · Democratic Unionist Party 1 content, 0 not content · Green Party 0 content, 1 not content
22 April 2026Government defeated
Baroness Bowles of Berkhamsted moved Motion A1, as an amendment to Motion A, leave out from “House” to end and insert “do insist on its Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88, do insist on its disagreement to Commons Amendments 88A and 88C, and do disagree with the Commons in their Amendments 88E to 88P to the words restored to the Bill by the Commons disagreement to Lords Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88.”
Peers' vote386 peers
Content · 234Not content · 152
Conservative 152 content, 0 not content · Labour 0 content, 144 not content · Liberal Democrat 54 content, 0 not content · Crossbench 13 content, 4 not content · Non-affiliated 7 content, 3 not content · Democratic Unionist Party 3 content, 0 not content · Ulster Unionist Party 3 content, 0 not content · Plaid Cymru 2 content, 0 not content · Green Party 0 content, 1 not content
20 April 2026Government defeated
Baroness Neville-Rolfe moved Motion J1, as an amendment to Motion J, to leave out from “House” to end and insert “do insist on its Amendments 77 and 85 to which the Commons have disagreed for their Reason 85A.”
Peers' vote313 peers
Content · 162Not content · 151
Conservative 144 content, 0 not content · Labour 0 content, 139 not content · Crossbench 7 content, 7 not content · Non-affiliated 6 content, 2 not content · Democratic Unionist Party 3 content, 0 not content · Plaid Cymru 0 content, 2 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 0 content, 1 not content
20 April 2026Government defeated
Baroness Noakes moved Motion G1, as an amendment to Motion G, at end to insert “and do propose the following amendment in lieu, 35B After Clause 57, insert the following new Clause, “Sections 40, 42 and 44:regulations and competition among providers of pension schemes (1) In section 143 of the Pensions Act 2008, after subsection (1), insert, “(1A) In making regulations under section 20(1A), 20(1C), 26(7A), 28A, 28B, 28E, 28F and 28J the Secretary of State must have regard to the benefits of competition among providers of pension schemes.”. (2) In making regulations under sections 42 and 44 the appropriate authority must have regard to the benefits of competition among providers of pension schemes.””
Peers' vote361 peers
Content · 211Not content · 150
Conservative 144 content, 0 not content · Labour 0 content, 142 not content · Liberal Democrat 43 content, 0 not content · Crossbench 12 content, 2 not content · Non-affiliated 8 content, 3 not content · Democratic Unionist Party 2 content, 0 not content · Plaid Cymru 0 content, 2 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 0 content, 1 not content
20 April 2026Government defeated
Viscount Younger of Leckie moved Motion F1, as an amendment to Motion F, at end to insert “and do propose Amendments 37B and 37C in lieu, 37B Clause 40, page 45, line 31, at end insert, “28BA Exemptions from scale requirement (1) The Secretary of State may by regulations provide that the Regulator may determine that a relevant Master Trust or a group personal pension scheme is to be treated as meeting the scale requirement in section 28A or 28B only if the Regulator is satisfied that the condition in subsection (2) or (3) is met. (2) The Regulator may make a determination under subsection (1) where the trustees or managers of the scheme have demonstrated, on the basis of robust and independently verifiable evidence, that there is no reasonable prospect that consolidation of the scheme into another arrangement would be likely to improve outcomes for members. (3) The Regulator may make a determination under subsection (1) where the trustees or managers of the scheme have demonstrated, on the basis of robust and independently verifiable evidence, that they are delivering good outcomes for members as a result of innovation. (4) For the purposes of subsection (3), a relevant group personal pension scheme is to be treated as meeting the innovation condition if the managers of the scheme can demonstrate that it provides specialist or innovative services. (5) The Secretary of State may by regulations make provision for the definition of “specialist or innovative services” for the purposes of this section. (6) In determining whether the condition in subsection (2) is met, the Regulator must have regard to evidence demonstrating that the scheme delivers outcomes for members that are at least equivalent to, or better than, those reasonably expected from consolidation into a scheme meeting the scale requirement, including, (a) net risk-adjusted investment performance; (b) independently assessed governance quality and operational capability, including compliance history, trustee expertise, and administrative performance; (c) whether the scheme derives material and demonstrable benefits for members from integrated, pooled or cross-scheme investment arrangements not reflected solely in the total value of assets counted under section 28A(4) or 28B(4), and whether those arrangements are likely to result in outcomes for members that would not be materially improved through consolidation; (d) whether the scheme invests wholly or substantially in a default arrangement operated by another scheme or manager meeting the scale requirement and that arrangement demonstrably determines the majority of member investment outcomes; (e) whether participation in a wider asset management group of substantial scale provides direct and measurable benefits to members, including reduced costs, improved diversification, or enhanced access to investment opportunities. (7) In making a determination under subsection (1), the Regulator must be satisfied that any benefits identified under subsection (3) are material and demonstrably in the interests of members. (8) Regulations under this section may make provision about, (a) reasonable evidential requirements and assessment processes for applications under subsection (1); (b) the duration, renewal and withdrawal of a determination under subsection (1); (c) reporting and disclosure requirements.”” 37C Clause 40, page 54, line 18, after “28B,” insert “28BA,””
Peers' vote364 peers
Content · 216Not content · 148
Conservative 146 content, 0 not content · Labour 0 content, 141 not content · Liberal Democrat 43 content, 0 not content · Crossbench 12 content, 3 not content · Non-affiliated 9 content, 3 not content · Democratic Unionist Party 2 content, 0 not content · Plaid Cymru 2 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 0 content, 1 not content

Show 15 earlier Lords votes

20 April 2026Government defeated
Baroness Bowles of Berkhamsted moved Motion E1, as an amendment to Motion E, to leave out from “House” to end and insert “do insist on its Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88, and do disagree with the Commons in their Amendments 88A to 88C to the words restored to the Bill by the Commons disagreement to Lords Amendments 15 to 24, 27, 30 to 34, 36, 38 to 42, 83 and 88.”
Peers' vote363 peers
Content · 219Not content · 144
Conservative 143 content, 0 not content · Labour 0 content, 138 not content · Liberal Democrat 45 content, 0 not content · Crossbench 16 content, 2 not content · Non-affiliated 9 content, 3 not content · Democratic Unionist Party 2 content, 0 not content · Plaid Cymru 2 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 0 content, 1 not content
23 March 2026Government defeated
Baroness Stedman-Scott moved amendment 169, after clause 117, to insert the new clause Review of pension communications and financial promotion rules.
Peers' vote343 peers
Content · 188Not content · 155
Labour 0 content, 148 not content · Conservative 129 content, 0 not content · Liberal Democrat 45 content, 0 not content · Non-affiliated 6 content, 2 not content · Crossbench 2 content, 5 not content · Democratic Unionist Party 3 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 1 content, 0 not content
23 March 2026Government defeated
Viscount Thurso moved amendment 162, after clause 117, to insert the new clause Discharge of liabilities in respect of compensation: commencement.
Peers' vote357 peers
Content · 198Not content · 159
Labour 0 content, 147 not content · Conservative 134 content, 0 not content · Liberal Democrat 50 content, 1 not content · Crossbench 2 content, 9 not content · Non-affiliated 6 content, 2 not content · Democratic Unionist Party 3 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Green Party 1 content, 0 not content
23 March 2026Government defeated
Baroness Neville-Rolfe moved amendment 157, after clause 117, to insert the new clause Review of public service pension schemes.
Peers' vote416 peers
Content · 241Not content · 175
Conservative 164 content, 0 not content · Labour 0 content, 156 not content · Liberal Democrat 54 content, 0 not content · Crossbench 6 content, 13 not content · Non-affiliated 11 content, 3 not content · Democratic Unionist Party 3 content, 0 not content · Ulster Unionist Party 3 content, 0 not content · Green Party 0 content, 2 not content · Bishops 0 content, 1 not content
23 March 2026Government defeated
Baroness Sherlock moved amendment 156, after clause 117, to insert the new clause Investment principles and choosing investments: guidance.
Peers' vote427 peers
Content · 202Not content · 225
Conservative 2 content, 157 not content · Labour 159 content, 0 not content · Liberal Democrat 0 content, 51 not content · Crossbench 34 content, 2 not content · Non-affiliated 5 content, 6 not content · Democratic Unionist Party 0 content, 4 not content · Ulster Unionist Party 0 content, 3 not content · Green Party 2 content, 0 not content · Plaid Cymru 0 content, 2 not content
23 March 2026Government won
Baroness Altmann moved amendment 154, after clause 110, to insert the new clause Lump sum payments for members of the Financial Assistance Scheme.
Peers' vote238 peers
Content · 77Not content · 161
Labour 0 content, 149 not content · Liberal Democrat 52 content, 0 not content · Crossbench 12 content, 9 not content · Non-affiliated 5 content, 3 not content · Conservative 3 content, 0 not content · Plaid Cymru 2 content, 0 not content · Democratic Unionist Party 1 content, 0 not content · Green Party 1 content, 0 not content · Ulster Unionist Party 1 content, 0 not content
19 March 2026Government defeated
Baroness Noakes moved amendment 115, after clause 44, insert the new clause Innovation and competition.
Peers' vote245 peers
Content · 135Not content · 110
Labour 0 content, 106 not content · Conservative 90 content, 0 not content · Liberal Democrat 24 content, 0 not content · Crossbench 11 content, 2 not content · Non-affiliated 5 content, 2 not content · Democratic Unionist Party 3 content, 0 not content · Ulster Unionist Party 2 content, 0 not content
19 March 2026Government defeated
Baroness Noakes moved amendment 105A, in clause 40, page 54, line 16, after “regulations)” insert, “(a) after subsection 1, insert, “(1A) In making regulations under section 20(1A), 20(1C), 26(7A), 28A, 28B, 28E, 28F and 28J the Secretary of State must have regard to, (a) the encouragement of innovation in the design and operation of pension schemes, and (b) the benefits
Peers' vote302 peers
Content · 184Not content · 118
Conservative 121 content, 0 not content · Labour 0 content, 112 not content · Liberal Democrat 40 content, 0 not content · Crossbench 10 content, 3 not content · Non-affiliated 8 content, 3 not content · Democratic Unionist Party 2 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Bishops 1 content, 0 not content
19 March 2026Government defeated
Viscount Younger of Leckie moved amendment 77, in clause 40, page 45, line 31, at end to insert, “28BA Exemption from scale requirement (1) The Secretary of State may by regulations provide that the Regulator may determine that a relevant Master Trust or a group personal pension scheme is to be treated as meeting the scale requirement in section 28A or 28B if the Regulator is satisfied that the condition in subsection (2) is met. (2) The Regulator must be satisfied that there is no reasonable evidence that consolidation of the scheme into another arrangement would be likely to improve outcomes for members. (3) In determining whether the condition in subsection (2) is met, the Regulator must have regard to, (a) net risk-adjusted investment performance; (b) governance quality and operational capability; (c) whether the scheme benefits from integrated, pooled or cross-scheme investment arrangements not reflected solely in the total value of assets counted under section 28A(4) or 28B(4); (d) whether the scheme invests wholly or substantially in a default arrangement operated by another scheme or manager meeting the scale requirement; (e) whether the scheme derives material investment benefit from participation in a wider asset management group of substantial scale. (4) Regulations under this section may make provision about, (a) the duration, renewal and withdrawal of a determination under subsection (1); (b) reporting and disclosure requirements.”
Peers' vote309 peers
Content · 191Not content · 118
Conservative 126 content, 0 not content · Labour 0 content, 110 not content · Liberal Democrat 40 content, 0 not content · Crossbench 12 content, 5 not content · Non-affiliated 7 content, 3 not content · Democratic Unionist Party 3 content, 0 not content · Bishops 2 content, 0 not content · Ulster Unionist Party 1 content, 0 not content
19 March 2026Government defeated
Baroness Bowles of Berkhamsted moved amendment 52, in clause 40, page 38, line 12, leave out “and Condition 2”.
Peers' vote330 peers
Content · 217Not content · 113
Conservative 144 content, 0 not content · Labour 0 content, 107 not content · Liberal Democrat 46 content, 0 not content · Crossbench 14 content, 3 not content · Non-affiliated 8 content, 1 not content · Bishops 2 content, 0 not content · Democratic Unionist Party 2 content, 0 not content · Green Party 0 content, 2 not content · Ulster Unionist Party 1 content, 0 not content
19 March 2026Government defeated
Baroness Altmann moved amendment 49, in clause 22, page 24, line 19, leave out “12” and insert “36”.
Peers' vote324 peers
Content · 217Not content · 107
Conservative 140 content, 0 not content · Labour 0 content, 102 not content · Liberal Democrat 43 content, 0 not content · Crossbench 18 content, 4 not content · Non-affiliated 7 content, 1 not content · Democratic Unionist Party 5 content, 0 not content · Green Party 2 content, 0 not content · Ulster Unionist Party 2 content, 0 not content
16 March 2026Government won
Viscount Thurso moved amendment 14, clause 10, page 11, line 12, to insert, “(2AA) Without prejudice to the generality of subsection (2A), regulations made under that subsection must include provision that takes into account the particular circumstances of occupational pension schemes established before the coming into force of the Pensions Act 1995 which, prior to that Act, possessed or were understood to possess a power to pay surplus to an employer.”
Peers' vote190 peers
Content · 48Not content · 142
Labour 0 content, 134 not content · Liberal Democrat 42 content, 0 not content · Crossbench 3 content, 5 not content · Non-affiliated 1 content, 3 not content · Green Party 1 content, 0 not content · Plaid Cymru 1 content, 0 not content
16 March 2026Government defeated
Baroness Stedman-Scott moved amendment 12, after clause 7, to insert the new clause Interim reviews of employer contributions rates in the Local Government Pension Scheme.
Peers' vote369 peers
Content · 198Not content · 171
Conservative 182 content, 0 not content · Labour 0 content, 148 not content · Crossbench 5 content, 19 not content · Non-affiliated 7 content, 3 not content · Democratic Unionist Party 2 content, 0 not content · Ulster Unionist Party 2 content, 0 not content · Plaid Cymru 0 content, 1 not content
16 March 2026Government defeated
Baroness Stedman-Scott moved amendment 9, after clause 7, to insert the new clause Benchmarking of Local Government Pension Scheme liabilities.
Peers' vote378 peers
Content · 201Not content · 177
Conservative 183 content, 0 not content · Labour 0 content, 147 not content · Crossbench 5 content, 24 not content · Non-affiliated 8 content, 3 not content · Ulster Unionist Party 3 content, 0 not content · Democratic Unionist Party 2 content, 0 not content · Green Party 0 content, 2 not content · Plaid Cymru 0 content, 1 not content
16 March 2026Government defeated
Baroness Noakes moved amendment 4, after clause 2, page 4, line 24, at end insert, “(4A) The provision made by virtue of subsection (1) may not include any provision about investment in specific assets or asset classes or about the location of investments.”
Peers' vote441 peers
Content · 276Not content · 165
Conservative 184 content, 0 not content · Labour 0 content, 150 not content · Liberal Democrat 53 content, 0 not content · Crossbench 25 content, 9 not content · Non-affiliated 8 content, 3 not content · Ulster Unionist Party 3 content, 0 not content · Democratic Unionist Party 2 content, 0 not content · Green Party 0 content, 2 not content · Bishops 1 content, 0 not content · Plaid Cymru 0 content, 1 not content

Lords votes last updated 18 October 2026. Source: UK Parliament Lords Votes API.