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Pensions Bill

I thank the Minister for that response, which at least confirms that the Government will proceed with the minimalist recommendations of the deregulatory review from last year. He has, however, failed to take the point that although the Government have wisely provided for indexation capping both for pensions in payment and for deferred pensions, employers cannot achieve it except by agreement with trustees, who always extract a price. The Government make a big fanfare about giving these things to employers, but in fact it achieves nothing for them. The Government are offering regulations that may free up scheme rules but do not actually help employers very much at all. If that is all that is on offer, I will go back after Committee to those who have asked us to raise this issue. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.