Clause 15

Part of Pensions Bill – in a Public Bill Committee at 10:15 am on 1 February 2007.

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Photo of David Laws David Laws Shadow Secretary of State for Work and Pensions 10:15, 1 February 2007

No, I am certainly not saying that. Even the PPI’s policy proposals on pensions could leave a small number of people—probably less than 10 per cent.—on means-testing during retirement. I am saying that a personal account system would be extremely dangerous if as many as half the population were to end up on means-tested benefits, especially if we do not have a proper system of advice, which becomes more difficult as the number of people in the category increases. But no doubt we will come on to that later.

We have aired some of the concerns about that issue.