Member

If the Committee is to accept mandation in this context, it should do so with its eyes open. The practical effect is to treat the pensions of default savers as instruments of public policy, rather than as assets held in trust first and foremost to secure retirement outcomes. That is the contradiction at the heart of this approach, and I feel it required some explanation, just to be sure that the message has got through. The Minister must respond to this, and I am sure she will.