John Penrose

Conservative Party | Weston-super-Mare

Pensions Commission Report

John Penrose (Weston-super-Mare) (Con): Does the Secretary of State accept that if the Government decide to go ahead with the Turner report's recommendation for a national pension savings scheme, it will be essential to have sufficient safeguards in place to prevent future occupants of No. 11 Downing street from mounting a smash-and-grab raid on what we hope will be a mounting pot of individual savings over many years? To pick up on the point made by my hon. Friend the Member for Beckenham (Mrs. Lait), it will be essential to avoid any kind of political interference in the management of that money.

Does the Secretary of State also acknowledge that if he accepts the Turner commission's recommendation to increase the retirement age, he will have to adjust the current age discrimination laws, which allow people above the age of 65 to be dismissed on age-related grounds? If we are going to ask people to work until 67 or 68, we will clearly need to adjust those laws.

Mr. Hutton: The hon. Gentleman's last point is right, and we will need to revisit that issue if we accept any part of Lord Turner's proposal. At the risk of jeopardising the spirit of consensus and good will, all that I can say of his point about my right hon. Friend the Chancellor is: for heaven's sake, grow up.