Pensions Bill

My Lords, I thank the Minister for confirming that the flexibility is in the Bill and for what he has said on the burdens on businesses of different sizes being taken into account. He should perhaps recognise that there are still concerns among groups that represent smaller employers. The Government have been keen to say what they could do, but have not said what they will do. That leaves smaller employers feeling that they will bear something which may feel unsustainable when the time comes and not knowing whether their concerns are recognised, especially as—the Minister will know—there is considerable dispute about whether the Government’s figures for smaller businesses fairly reflect the cost burdens that will be reflected on them. I shall not divide the House on the amendment, but will urge the Government to stay in touch with organisations that are in touch with the concerns of all employers, particularly small employers, because these are very real issues that could affect the success or otherwise of any launch of personal accounts. If we put that in the context of a conjuncture where economic circumstances are not good, the Government could be laying straws that break camels’ backs without intending to if they are not very careful when they implement these proposals. I beg leave to withdraw the amendment. Amendment, by leave, withdrawn. Clause 29 [Transitional period for defined benefits and hybrid schemes]: