Chairman: Is it 6% or nothing from the employee?
Dept: That is the current proposal. If they opt out, they opt out. They can't choose 6%
Chairman: clarifies tax treatment. Those on the top rate will lose out. Those on lower rates will gain.
Dept: If they are in a pension scheme at present and getting the top rate of relief, they should not switch to this. But they would have to do their own calculations.
Chairman: If someone has a pot already, can they migrate it to the new system?
Dept: Both are possible.