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Pensions Bill

I am being encouraged to embarrass the Opposition, but the Young review debunks the Conservative myth about pensions. Those involved in that review are continuing to look at the question of unclaimed assets, because that is what some people—including Opposition Members—have suggested. They do not think that that approach will lead anywhere, but they do believe that some of the assets in current pension funds should be aggregated. If those assets could be sweated more efficiently, and combined so that annuities could be purchased in bulk, they believe that more money will be raised than was anticipated under the previous proposals.