---

Pensions Bill

I am not sure that I can add much to what I have said. We want to make sure that the test scheme is relevant to what is happening to defined benefit schemes generally. We expect that there is likely to be an upward movement in retirement dates in those schemes as state pension age increases. It is very unlikely that in aggregate that will mirror the timetable of the state pension age changes. Therefore, if we were to have that equivalence in the test scheme, it would lead to complexity in evaluating whether the test scheme is met in all circumstances. This should not be a matter of huge controversy. We recognise that the test scheme is likely to need adjustment over time as pension ages change, but to lock it into step in accordance with what is happening with state pension age would be to add unnecessary complexity. We would need to consult stakeholders in any event about how we should pitch the test scheme going forward, in the light of what is happening to state pension ages. I do not see why this should be a matter of controversy.