Member

In Committee, the Minister sought to reassure noble Lords by stating that only 33% of small businesses offer salary sacrifice arrangements. One in three small businesses potentially exposed to the new cost and to the new complexity is a very substantial proportion of those organisations that make up the backbone of the British economy. Even for those not currently operating such schemes, the signal sent by this Bill is clear: providing pension flexibility or innovative remuneration structures carries risk. At a time when we should be encouraging pension saving and responsible employer contributions, we are creating disincentives.