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Occupational Pensions

I welcome the fact that the Secretary of State appears to have shifted his attitude and policy on this issue. Is he aware that I represent many of the Albert Fisher pensioners? Most of them are in their late 50s and have lost on average 25 years’ worth of occupational pension benefits. When they eventually reach retirement age, the FAS will give them less then 50 per cent. of their expected pension, so obviously they are still very angry. Further to the question asked by the hon. Member for Angus (Mr. Weir) about the overall cost, will the Secretary of State elaborate on his answer? Surely from the £15 billion must be deducted the cost of benefits to constituents such as mine, and, indeed, the tax that they would pay if they received a bigger pension.