M
Member
Speaking in the House of Lords on 23 February 2026
Debate
Pension Schemes BillContribution
More generally, comparison with the private sector is enlightening, particularly now that the generous defined benefit schemes in the private sector have been closed, thanks to Gordon Brown’s raid on them in 1997. The net effect for those under 40 is a private sector with defined contribution pensions that are barely adequate, putting a much greater reliance on non-pension savings and the state pension.
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