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Pensions Bill

My Lords, I can confirm the point made by the noble Baroness, Lady Hollis. I am a member of two defined benefit pension schemes. When I wrote to the administrators of both schemes about six months ago to find out what pension I might expect to be paid when I reach the retirement age in both cases, one of them interpreted my letter as a suggestion that I might like to transfer out of the scheme into another scheme and offered me a cash benefit to transfer out. Indeed, the letter was framed as though that would be the natural thing to do and that unless I took advantage of that within a certain period of time, this attractive offer would be lost.