Member

The Clause 49 stand part notice, as I understand it, is to explore how this will work. I am grateful to the noble Viscount, Lord Younger, for his support for the principle here. He will remember, of course, that the concept of default solutions in decumulation was first presented to the industry through the previous Government’s consultation Helping Savers Understand their Pension Choices: Supporting Individuals at the Point of Access, published in July 2023. I reassure him that the Government have continued to engage extensively with the industry since that consultation.