Frank Field believes that before the end of this parliament the government will "bite the bullet" and extend compulsion on pensions.

Frank: believes compulsion is in the pipeline

"The commission it's established will be looking at what is happening to final salary schemes - the rate at which they are closing, and the proportion of employers who not only just are moving from final salary schemes to defined contributions, but cutting, probably significantly, their contributions in the process."

But Malcolm McLean, chief executive of the Pensions Advisory Service, points out that there are some problems with compulsion.

"There are some people who just cannot afford to pay into a pension scheme.

"Perhaps a student struggling to pay off debts, perhaps a one parent family struggling to do a job.

"I think compulsion is a very difficult political issue for the government to grasp.

"I think it needs to be thought through very carefully before we embark down that road."

Too late

Some people have been so badly affected by pension scandals, they can only conclude that Tuesday's announcements were too little too late.

Charles Moberly's experience:

Mis-sold personal pension Shortfall in his employer's final salary scheme Paid AVCs to Equitable Life Overpaid NI - no refund

Working Lunch viewer Charles Moberly has experienced a catalogue of pensions problems.

His main concern is that his final salary scheme is now unlikely to pay him the �340 per month he was expecting.

"We were told it was run independently of the company, yet now the company itself, which is now in liquidation, is an unsecured creditor to the tune of 80% of the net assets of the fund.

"The government must do something about that in my view."

Tax

The Green Paper includes big changes to the tax breaks you get when you save up for a pension.

It's about simplification - eight different systems are being collapsed into one.

The basic rules are that there can't be more than �1.4m in your pension fund and there's an annual limit on the amount you can put in.

The limit is not more than the amount you earn, up to a maximum of �200,000.

Anne: "You can put more money into a pension"

Anne Redstone, a tax partner from Ernst and Young, thinks the changes will be beneficial to most people.

"What it's going to allow you to do is to put more money away," explains Anne.

"For instance if you have a windfall - say you sell your house and make a profit or inherit something, you can put more money into a pension than you could have done before."

Malcolm McLean believes the tax changes are the most radical and best part of the Green Paper.

"I think it's mainly going to benefit the employers and administrators of pension schemes.

"I think the impact perceived by the consumer is not going to be that great.

"What I'd like to see is the industry now moving forward and perhaps simplifying the confusing pension products that are about."

Most people won't of course have anywhere near the �1.4m limit.

Malcolm: tax changes are radical

"How do we have a scheme so that those on the bottom of the pile can become full members?" asks Frank.

"That's the issue the government has yet to deal with.

"No amount of tax changes will change that situation."

Annuities

If you have a personal pension you'll use the money saved to buy an annuity.

At the moment though they're not paying a very high income and you can't get your money back again.

There is the probability now that we will have Limited Period Annuities.

These last only three to five years, then you can try for a better deal.

There's also the possibility of Value Protected Annuities, which pay a lower rate but leave something for you to pass on in your estate.

One interesting idea is that if your pension fund is �10,000 or less you won't have to buy an annuity with it. Instead you'll be able to take the money as cash.