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Pensions Bill

That will not compromise the independence of the delivery authority. The Secretary of State is the right person to make those appointments. I wonder who else the hon. Gentleman would entrust with that responsibility, given that the scheme is being set up by Parliament and must eventually be properly accountable to Members in this place. When people take out a pension, they are putting their money away for 20, 30 or 40 years, or even longer. They expect the framework in which they make that decision to save for their future to remain as stable as possible over that period. Today, we can make it clear that our intention is to help people to save with confidence. Over the past 30 years, as the Pensions Commission highlighted, the pensions environment has failed to provide that stability. On top of demographic changes and stock market fluctuations, policy has frequently changed, under numerous Governments, leaving us with what the Pensions Commission described as arguably the most complex system in the world. We owe it to our constituents and to future generations to reach beyond the normal partisanship of party politics and to establish, through this legislation, a pensions system that can truly stand the test of time. The Bill gives every Member of the House the chance to demonstrate, first, a strong resolve in addressing the pensions challenge that we face as a country, and secondly, the opportunity for all of us to make common cause with our constituents in helping them to plan for their own financial security in retirement. In supporting the Bill tonight, right hon. and hon. Members will take a major step towards a sustainable, affordable and trusted system that will meet the needs of those in retirement both now and in the future. That is why I commend the Bill to the House.