---

Occupational Pensions

I think that there has been a misunderstanding that somehow this argument is about leaflets. I have not even mentioned leaflets yet. So far, all I have said is that the occupational pension schemes that operated during the period in question operated within a regulatory framework that had been set up through the Pensions Act 1995, and that from that certain implicit guarantees—and in some cases explicit guarantees—had been given to people post-Maxwell about the safety of those schemes. Indeed, words such as ““safe”” and ““guaranteed,”” and phrases such as ““protected by laws,”” were frequently used.