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Work and Pensions Committee to question Pensions Regulator, FCA, MaPS and former pensions ministers

6 June 2022

The Work and Pensions Committee will question former pensions ministers and representatives from the Pensions Regulator, Financial Conduct Authority (FCA) and Money and Pensions Service (MaPS) as part of its 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.

Purpose of the session

The first panel will feature former ministers Sir Steve Webb and Baroness Ros Altmann along with Baroness Jeannie Drake, a former member of the Turner Pensions commission. Questioning is likely to focus on different approaches to ensuring adequacy of savings, next steps for auto-enrolment and how to reduce the gender pensions gap.

MPs will then question the Pensions Regulator, FCA and MaPs on the role of guidance and support in increasing saving for retirement as well as issues around gig economy workers and the self-employed.

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, while in April it questioned master trusts and pension companies.

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 8th June, Committee Room 15, Palace of Westminster

At 9.15am

Panel 1

  • Sir Steve Webb
  • Baroness Jeannie Drake
  • Baroness Ros Altmann

Panel 2

  • Charles Counsell, Chief Executive, the Pensions Regulator
  • Sarah Pritchard, Executive Director of Markets, Financial Conduct Authority
  • Caroline Siarkiewicz, Chief Executive, Money and Pensions Service

Further information

Image credit: Parliamentary copyright