Written Evidence to be reported to the House.
Pensions Bill
12:00 pm
Ian Farr: We broadly support the Bill, and the extension of pensions to people who do not currently have them. We also support the reduction in the 5 per cent. cap for the revaluation of deferred pensions in existing defined benefit occupational pension schemes, but we are concerned about the probability of levelling down. Like all the major pension organisations in this country, we are concerned that, as yet, there is not nearly enough in the Bill to protect the good occupational schemes that currently exist—or did exist a few years ago until the great switch happened. That is why we would wish to see a change.