Member

Those arguments, however clearly they were expressed at the time, have not been carried through to the Government’s current position. On this occasion, we instead find ourselves in agreement with the Minister’s remarks during the passage of the pensions Bill; specifically, we agree with her remarks last Thursday in reply to the noble Lord, Lord Davies. Mandating full inflation-linked increases across all defined benefit schemes would present a genuine risk to long-term scheme sustainability, particularly at a point where many schemes are approaching buyout.