Pensions Bill
9:15 am
Niki Cleal: I think that is an important question. It is important in this debate not to lose sight of the bigger picture. We have talked a lot about the “at-risk” groups, but we must remember that many people will benefit from the reforms. Our analysis shows that there are particular benefits for young people, those in their 20s in 2012. Many of them may be working today for employers who do not offer any contribution at all. They will now be eligible for a 3 per cent. contribution for the first time if they do not opt out. Clearly that will be a positive thing if the reforms are successful and if people do not opt out and if employers do not change their behaviour.
So, yes, there is potential for this Bill to have a positive impact. That said, there are these important issues for certain groups. We must look carefully at the incentives and the likely returns for some of those “at-risk” people that we have been talking about. So that is the answer to the first part of your question. Sorry, I have forgotten the second part.