Pensions

My Lords, I do not want again to go over the public sector pension discussion. I hope that the noble Lord will recognise that many private companies with their own pension schemes have given protection to existing members under the same conditions and have introduced new provisions for new members joining their company. That is what has happened in essence in relation to public sector pensions. As regards whether the rise in the state pension age should have been brought forward sooner, I must point out that for women the changes are occurring very shortly. Between 2010 and 2020 that will be equalised up to the age of 65. It is sensible that we allow that to happen and then go in this gradual way up to 68. We are following the broad recommendation of the Turner commission. It is very easy to talk in theory about rises in the state pension age. We have yet to experience what occurs when it is put into practice. I think that it is better to give people a long period for consideration. In the mean time, we must do everything we can to encourage older workers to stay in work. That is happening. The age at which people retire is gradually moving upwards. In essence, we wish to encourage that to happen in the future and then to bring in the statutory provisions.