Those that save are responsible. They are the ones that put money aside for retirement, and this is to be encouraged. In DWP questions today I asked how the Government were protecting savings, and encouraging those who don't save, to do so.
Does the Minister agree that pensions means-testing seriously undermined a culture of savings built up over many decades? Will he assure us that, following this reform, people will not be punished for making proper provision for their old age, as they were under the last Government?
Steve Webb (Pensions Minister):
My hon. Friend is quite right. The nightmare scenario under automatic enrolment would be people opening their newspapers and reading, "Don't bother to save small amounts of money; the Government will just claw it back." We are confident that by sorting out the state pension we will not only deal with the position of people at the bottom of the pile, but will make auto-enrolment the success that we all want it to be.
It has been an honour and privilege to serve as Member of Parliament for Dover & Deal. I hope to be re-elected to serve our community for another term.
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