Member

I just want to stress why we are here and why all these measures have had to be taken to reach a system that works for individuals and delivers the sort of pensions that people expect to receive. What people really want is a pension that just works. Personal pensions were conceived with the idea that people would be engaged and take all the decisions. That has just failed, and this section of the Bill is about ensuring that pensions just work, without the imagination of personal pensions introduced 40 years ago.