Pensions Bill

My Lords, I thank the noble Lord for giving way. We have had a variety of pensions bodies—the Occupational Pensions Board on one occasion and then OPRA—but does he really think that an independent commission will develop in a way in which those bodies did not? I was a member of the Occupational Pensions Board for many years but we did not have the powers we needed. Does the noble Lord really think that a new body would be any better than the ones we have had in the past?