Member

I recognise that this response will not be welcomed by those who want to change this, but the reforms in the Bill will create a more efficient, resilient pensions landscape and lay the foundation for the Pensions Commission, which will examine outcomes for savers and long-term adequacy, fairness and sustainability. We will continue to consider cases on their individual circumstances where members have experienced losses. However, for the reasons I have mentioned, and because of the protections in place, I do not believe that a review is necessary, so I hope the noble Lord will withdraw his amendment.