Dr. Laura Bambrick:

The Department has delayed making a decision on how it will be paid out given that it will first of all take ten years to build up to the situation whereby people will be paying full contributions. It will be gradually introduced. For the first decade plus, people will not have a big enough pension pot when they are drawing it down to do anything other than take it in a lump sum. Therefore, how people access their money and what parameters we will put on that will be a conversation for another day. There are no provisions in this legislation on that.