The idea
The Labour govt removed the tax break that Pension Investment companies got with their uk stock market investments and wrecked the best pension system of any country; this also reduced the volume through the UK stock exchange and so reduced its importance in the world.
Why is it important?
It is important to restore our Pension schemes,increase investment in stock market firms that this tax break would restore, and avoid putting responsibility for important investment decisions back to the ( unskilled at investing decision) employee. ie saddling him with a poorer Pension.