Pensions Reform

It is a problem in some sectors, but as my hon. Friend the Member for Bradford, North (Mr. Rooney) pointed out—I do not know whether my hon. Friend the Member for Stroud (Mr. Drew) heard him—people who have contributed to an adequate scheme have always been able to take early retirement, and can do so in future, accepting that they will get a smaller pension as a result of actuarial differences. They can change career and do a different type of job with a different level of pay but in a less stressed environment. That is not true of all careers or jobs, however, and that also exposes the differences between economic groups. Some people on low incomes could never be in that situation. They know from the outset that they will have to be in employment for their entire working lives to get any kind of decent pension. They are probably the group to whom we ought to pay most attention.