Viscount Younger of Leckie (Con)

We brought this into effect. Of course, that takes us back to the coalition in 2010-15, but so much has been done since then. I will not go on but, if the noble Lord feels so strongly about this, why does he not probe his own Government more on why there is nothing in the Bill about saving more for retirement? I have not even mentioned the points in the Budget on salary sacrifice. I just wanted to get that in, as the noble Lord has become quite political. Moving on swiftly, Amendment 177 probes whether all default pension benefit solutions are required to provide a regular income and whether that income must necessarily be for life. Here, I pay some respect to the noble Lord, Lord Davies, because he rightly used the expression “pathways for people”, which are what this is all about. I am grateful to the Minister for providing some clarification on this point. She used a very good expression, “freedom to choose”, which is key in our discussion on this particular group. However, given the significance of this issue for members’ retirement outcomes, it is vital that this clarity is communicated, not just within this Committee but clearly and consistently to those whom these reforms are intended to serve. My noble friend Lord Fuller spoke about the importance of personalisation, which I think is a very good expression. Communication will be especially important in the context of guided retirement, where members may reasonably assume that a default implies a particular structure or guarantee unless told otherwise. The use of the word “default” is more than semantic, as I know the noble Baroness, Lady Altmann, has laid out in the past—I note she is not in her place. Ensuring that expectations are properly set will be central to building confidence and avoiding confusion at the point of retirement. Again, my noble friend Lord Fuller raised the importance of ensuring that certain cohorts must be particularly noticed and properly treated.