Schedule 1

Part of Pensions Bill – in a Public Bill Committee at 11:00 am on 5th February 2008.

Alert me about debates like this

Photo of Nigel Waterson Nigel Waterson Shadow Minister, Work & Pensions 11:00 am, 5th February 2008

I am following what the Minister is saying closely. I do not want to run the consultation here and now, but does he agree that a possible fatal flaw in the idea of a one-off joining fee is that if it is pitched too low, those members would benefit disproportionately and there would be an additional amount to be collected from later joining members, particularly if the persistency is awful? If one adopts the Steve Bee scenario, a lot of people will rush for the exit after two or three months because they have suddenly realised that, due to auto-enrolment, their pay packet is a bit light.