On the other hand, I believe that the question should be looked at again. Many of the suggestions made by the noble Baroness should be examined. As we live longer, I believe that from time to time the age limit will have to be raised. The other day a Dutch population expert predicted that babies born in the year 2010 will live to be 115. I hope that people will work longer.
People are likely to be fit for much longer.
In my old age I have taken up running. The other day I read in a magazine about a highly competitive veteran athletic club where the over-60s held world championships and the 100 metres was won in a time faster than that of the Olympics of 1892. It is incredible how the physical abilities of people have changed. On balance, looking at the tax advantage of the pension system, one should compare it with other forms of savings and the tax benefits that they give. 75 is a reasonable age, but I am open-minded on the matter.