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Pensions Bill

My Lords, I am pleased to add my name to the amendment of the noble Lord, Lord Oakeshott, for two reasons in particular. I also declare two levels of interest, as president of the Pensions Policy Institute and as chief executive of the International Longevity Centre. With the first hat on, I should point out that some of the models produced by the PPI have shown, and can quickly demonstrate, that change happens fast. Exactly as the noble Lord, Lord Fowler, just said, it is important that we should have post-legislative scrutiny and are able to keep up to date with the trends. Paragraph (c) of the amendment mentions: "““the latest trends in life expectancy and average retirement ages””. " Governments—and a commission, if one were set up—need to know those trends, because our national statistical office has got them wrong. The ILC always looks at the implications of longevity for everyone and also a little into the future to see how policies must adapt to cope with changing life expectancy and what that means for all of us. It would be wise for the Government to have a commission whose only job was to be up to date the whole time, monitoring the situation. As the noble Lord, Lord Fowler, said, it would not only save money but keep us all up to date on what is needed. I am happy to support the amendment.