Member

The noble Baroness, Lady Altmann, made some important points around communication. We will come back to that in the next group and when looking at a later amendment from the noble Baroness, Lady Stedman-Scott, so I will perhaps pick that up then. But there is an important point that, with upcoming changes in the industry, such as pensions dashboards, we will probably see a shift in saver engagement. To address engagement metrics, which my noble friend Lady Warwick asked about—or somebody did, I forget who; I am sorry, I am 65, what can I say?—along with TPR and the FCA, we are committed to developing engagement metrics over the medium term and we intend to develop them in consultation with industry. As a result, quality of service metrics will have to evolve over time. We believe that the right approach is therefore to set out in regulations further detail of these metrics and the related methodology.