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Pensions Bill

I support the amendment. I was attracted by the idea when it was raised earlier. Given that more and more people of both sexes now take jobs for short periods and then move on, this would be a fitting measure. If a female hairdresser manages to put aside a quarter of her pension savings, even before she has children or has to look after a grandparent or a parent, that is even more reason to think of all the money that the state saves through people undertaking such caring responsibilities. Like the noble Baroness, Lady Hollis, I prefer not to cap the total funds, particularly as we are talking about relatively small sums. I also like the possibility of moving the sum—whatever it is—the other way into a different, and no doubt existing, pension scheme that is already in the hands of insurance companies. That way, the companies might not feel quite so threatened as apparently they do by some of the plans that are being put forward.