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Saving for later life: Work and Pensions Committee to question master trusts and pension companies

22 April 2022

The Work and Pensions Committee will question representatives from master trusts and pension companies in the third oral evidence session of the inquiry into saving for later life.

The inquiry is examining whether households have adequate pension savings for retirement and how the Government can improve outcomes for savers.

Details about the session

The session is likely to include questions on auto-enrolment and whether changes are needed to boost saving rates, as well as what more can be done to improve guidance and advice for savers. The Committee is also likely to explore with witnesses how self-employed and gig economy workers can be supported and encouraged to save for retirement.

In an oral evidence session in February, the Committee heard from pension policy experts. In March, it heard from organisations representing pension savers and pension professionals.

The focus on saving for later life is part of the Committee’s work examining the impact of the pension freedoms, which were introduced in 2015 with the aim of giving people aged over 55 more control over how and when they could access their savings.  The Committee has previously published reports on pension scams and accessing pension savings.

Witnesses

Wednesday 27th April, Committee Room 6, Palace of Westminster at 9.15am:

Panel 1

  • Will Sandbrook, Managing Director for Strategy, Analytics and Nest Insight, NEST
  • Philip Brown, Director of Policy, B&CE - the People’s Pension
  • Darren Philp, Director of Policy and Market Engagement, Smart Pension
  • Joanne Segars, Chair of the Board of Trustees, NOW:Pensions

Panel 2

  • Colin Clarke, Head of Regulatory Change (Product Development), Workplace DC Pensions, Legal and General
  • Rona Train, Partner and Senior DC Consultant, Hymans Robertson
  • Jamie Jenkins, Director of Policy and External Affairs, Royal London
  • Peter Glancy, Head of Pensions Policy, Scottish Widows

Further information

Image credit: Tyler Allicock/UK Parliament