Clause 1 - Meaning of “Savings and Retirement Account (SaRA) schemes”

Part of Rights of Savers Bill – in a Public Bill Committee am 2:45 pm ar 14 Rhagfyr 2005.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Justine Greening Justine Greening Vice-Chair (Youth), Conservative Party 2:45, 14 Rhagfyr 2005

I record my dismay at the Government’s amendments. When we debated this Private Member’s Bill several weeks ago, I thought that although it was not the whole answer to this country’s pensions and savings issues, it was part of the answer. Listening to the Minister on that day, I very much hoped that his enthusiasm would be reflected in Committee this afternoon. I am surprised and disappointed that it is not.

I am sceptical about Government plans to bring forward pension reform, because we on the Select Committee on Work and Pensions have been given assurances about when reforms to incapacity benefit would come through, but they seem to have been delayed and delayed. From my reading the papers yesterday, it looks as if those reforms have been watered down.

Perhaps we can leave this room at least reassured by the Minister about exactly when the pensions White Paper will come through and whether it will contain specific measures to help support the savings culture that has been fundamentally dismantled during recent years. This Private Member’s Bill sought to address that issue, and I hope that the Minister can provide me with some reassurance about it.