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Pensions Bill

Perhaps I may make just a couple of points. The noble Baroness is taking an interesting position in that she is seeking to encourage the Secretary of State to stay involved and hang on to power. That is not what we usually hear from her. It may well be the case that the review in 2017 will say that there should be some relaxation to the limit, as that is what the evidence points to, but that there is no conclusive evidence that it needs to be abandoned for all time, in which case the Secretary of State does not need to operate under Clause 61(5). Quite how he would operate in those circumstances, given the vote that took place earlier, which abrogated our power to bring forward orders under these schemes, is another matter. Perhaps I should not press that point too far. The noble Baroness makes a reasonable point. If at that juncture there is not sufficient evidence to say that there should never be contribution limits, it may not be a wise use of the power, but it might be clear at that point that that position is taken. Having a contribution limit at whatever level imposes a cost on the scheme and on members, because it has to be implemented, policed and compliant, even if we are at a fairly high level. I do not see why the noble Baroness should be too troubled, but it is important that there is the facility to lift those contribution limits if they are not impacting adversely on the market and if they are restricting the right of the people at whom the schemes are aimed to save more fully.