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Pensions Bill

What matters is not 3 per cent of the total but what the percentage is of those who have to annuitise compulsorily at the age of 75. While I am on my feet, the Minister was good enough to say that he wanted to investigate the tax arrangements more fully than he has been able to do so far. I am sure that my noble friend Lord Hunt will welcome that. The Minister referred to tax savings of £17.5 billion; that is spread among a large number of pension savers. When he does his investigation, could he ask the Treasury for figures on the number of people who hold ISAs? We would then get a better sort of comparison, especially if he also looked at the tax advantages, which do exist—he admitted that they do—for saving through ISAs. Could he also look at the alternatively secured pensions? They have tax arrangements that are somewhat different from what is currently envisaged elsewhere in the system. Finally, all this talk of taxes reminds me that we are not debating a Finance Bill; we are tying to look at pensions as pensions. When the Minister has conducted his investigations on tax, will he be good enough to write to my noble friend Lord Hunt and me and put a copy in the Library for the general education of noble Lords?