It is a pleasure to serve under the chairmanship of Mr Davies. I acknowledge the interest shown in pension schemes and express appreciation for the points made regarding individual schemes, focusing instead on general terms today. Legislation sets minimum standards for DB indexation without preventing more generous arrangements through scheme rules or discretionary basis. The Government's role is to ensure compliance with statutory requirements while avoiding interference in decisions made by individual schemes. Trustees must act in the best interests of members now and in the future, balancing funding problems and long-term health of the scheme. Different models of trusteeship are appropriate depending on the characteristics of the scheme, and safeguards such as Pensions Regulator powers exist to address trustee capability or behaviour issues. A DB pension guarantees a certain amount of pension income every month for life, with additional inheritance benefits. The governance of DB schemes must balance needs across different parties including trustees, employers, and members. Legislation aims to ensure protection against inflation within regulatory frameworks. While sympathetic to pensioners who find their income not increasing as expected or planned, the minister will closely examine situations regarding the scheme discussed in debate, discuss with the Pensions Regulator, and consider proposals for improving trustee quality. Emphasis is on avoiding pushing smaller schemes into administration under the Pension Protection Fund while maintaining balance.