Pensions Bill

In financial terms, it is clearly building on that platform. Had the previous system not been in place, if any Government had come along and said “We will create a flat rate pension for everyone”, the expenditure involved would have been huge. It would not have been possible to achieve this if all the other bits and pieces had not been there already. That is why many people will find that the amount they receive is not hugely different from the amount that they might have received before.