Pensions Bill

My Lords, we have heard a great deal today about just how little knowledge people have on pensions, their entitlements and so on. It is quite clear that in the current frightening circumstances the situation will get very much worse and people will be very concerned about what to do with their money and how much should be put under their pillows. We certainly heard about that on the wireless today regarding those who can lay their hands on any money. This is an important amendment, which I hope will make the Government think. I am not totally convinced that advice is the right approach, but there must be some form of advice because the detailed information necessary will have to be relevant to an individual’s circumstances. How else can that be done? There is concern about any money being spent by the Government or anyone else now and everyone has particular projects on which they would prefer money to be spent. However, I am inclined to support this amendment. I will of course wait to hear what the Minister has to say and hope that he will give serious consideration to just how people will be better informed in the future. I like the idea of provision for the 50-pluses. Obviously the amendment cannot be perfectly comprehensive, but could it not take into account those with learning difficulties, about whom mention has been made? However, it will be the older generation that is more likely to be disadvantaged, so the amendment prioritises that group, given the limited amount of money involved. I hope that we will hear something convincing from the Minister. I support in particular the need to ensure that, given the added demands that will be placed on voluntary organisations such as Citizens Advice, they will be properly funded.