My Lords, I fully agree with the noble Lord that pension funds should be used to fund retirement. The point is that this is a retrospective tax, because people have already put the money in and made long-term plans, of which now a significant proportion, and sometimes the Majority, is being confiscated by HMRC if they are unlucky enough to die before they draw down. The worry is about people who are younger, not those who are deliberately avoiding taking their pensions. People die unexpectedly young, and their families will lose out and their death benefits will be cut. These are people who have made long-term plans. I am concerned about the impact on future pension savers, who will think, “The Government might just come and take this money away from me. I’m not going to invest it for the long run—pensions is just not something I want to bother with”, even if they would not eventually pay IHT. That is the problem and why I was suggesting a flat-rate levy, which can recover some of the tax relief given on unused pensions but still not impact the future confidence in pensions.