The Minister acknowledged the issue with integrated pension schemes and emphasised that all defined benefit schemes must pay out the full value of promised pensions to each member as per their scheme rules. He stated that while the original aim was to provide a smooth level of pension income throughout retirement, it is important for employees to understand how benefits are calculated and communicated clearly by employers. He mentioned that savers have avenues of redress through complaints to internal dispute procedures or the Pensions Ombudsman if issues arise. The Minister recognised calls for changes but noted that retrospective legislative change would risk affecting some well-funded schemes negatively. He highlighted progress made in closing gender gaps with the new state pension and automatic enrolment, but also acknowledged a large existing gap. The Government aims to address adequacy questions through phase 2 of their pensions review and will continue efforts towards labour market reforms benefiting women more broadly. Concerns about inflation were addressed by encouraging trustees to consider discretionary increases given recent high inflation rates. He mentioned the importance of using surpluses in defined benefit schemes for member benefits. Lastly, he responded to a question regarding pension fund control over investment decisions and ethical considerations like defence company investments, affirming existing responsibilities and freedoms under current laws.