Member

If the noble Lord does wish to persist with this, the law needs to be clear on whether criminal liability for wrongdoing arises from this unnecessary complication. This is a slim Bill with big consequences. It amounts to a poison pill, dated for 2029, left for the next Government to deal with, and in the meantime, nobody knows whether it is going to work, or even whether it can work. This is not just for the fat cats. The ham-fisted way in which the Bill ignores the real-life complexity for those real-life people and their real-life examples—which exist outside the cosy, monthly-paid final salary pension world in which the Treasury exists—needs to be answered. How are HR and payroll departments, or the hard-pressed small business owner, going to manage these complex interactions? How are the Government going to make it easy for people to save regularly and consistently into a pension if they have multiple employments, are between jobs or have variable pay?