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Formal meeting (oral evidence session): Protecting pension savers – five years on from the pension freedoms: Saving for later life

Work and Pensions Committee
Protecting pension savers – five years on from the pension freedoms: Saving for later life

Wednesday 8 June 2022

Start times: 9.00am (private) 9.15am (public)


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Saving for later life: Work and Pensions Committee to question Pensions Regulator, FCA, MaPS and former pensions ministers

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.

Likely areas of questioning

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.

Meeting details

At 9.15am: Oral evidence
Inquiry Protecting pension savers – five years on from the pension freedoms: Saving for later life
Former member of the Turner Pension Commission
Former Pensions Minister, 2015 - 2016
Former Pensions Minister 2010 - 2015
At 10.15am: Oral evidence
Inquiry Protecting pension savers – five years on from the pension freedoms: Saving for later life
Executive Director of Markets at Financial Conduct Authority
CEO at Money and Pensions Service
Chief Executive at The Pensions Regulator

Location

Room 15, Palace of Westminster

How to attend