Member

My noble friend Lord Trenchard has already noted some of those issues in our debates on past groups, as has the noble Baroness, Lady Bowles, and my noble friend Lady Altmann. The Committee would be better served if the Government collated that evidence, assessed which barriers are the most prevalent and set out a credible plan to remove them. The answer will not sit neatly with one explanation. It is not simply a matter of first-mover hesitation, and it is not simply a collective action problem; it is more complex than that. It is detailed. It is hard work. It requires careful research and policy design, which is what we should be doing in dealing with pensions.