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Pensions Bill

I do not agree with the noble Lord. The proposition is to design a low-cost scheme targeted on low to medium earners within the parameters that we are debating in the Bill. That is the wraparound of what has to be achieved and the broad remit of Tim Jones and his team in getting the funding strategy in place and the charging that will result from it. Again, this is within the constraint that it has to be self-financing in the long term. Those are the parameters within which he has to act and undertake his work and we should let him get on with it, rather than every single day trying to get an update on where he is on his costings. That seems an entirely reasonable position.