Committees

Pension freedom and choice inquiry

Inquiry

The deadline for written submissions was Monday 23 October 2017, which included recommendations for improvements in each case:

  • What are people doing with their pension pots (including defined benefit pension entitlements) and are those decisions consistent with their objectives? Is there adequate monitoring of the decisions being made?
  • Are people taking proportionate advice and guidance and if not, why not? Are people adjusting behaviour in response to advice and guidance?
  • To what extent will pensions dashboards enable consumers to make more informed decisions about their retirement savings? What are the remaining obstacles to their creation and success and how should those obstacles be overcome?
  • Is Pension Wise working? If not, how should it be reformed? Are there any implications for the proposed creation of a new single public financial guidance body?
  • Are there persistent gaps in the advice and guidance market and what might fill them? Is automated advice and guidance filling gaps as expected?
  • Is there evidence of product market competition resulting in cheaper, clearer or a wider products for consumers? Are people switching from their pension provider in accessing their pots? Is an adequate annuity market being sustained?
  • Are the Government and Financial Conduct Authority taking adequate steps to prevent scamming and mis-selling?
  • Are the freedom and choice reforms part of a coherent retirement saving strategy? To what extent is it complimentary to or undermined by other policies?

Work news

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Concerns cheated British Steel pensioners being "sold short" under compensation scheme
FSCS resists FCA nudge to using discretion to pay higher levels
25 January 2019
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Committee Chair welcomes Government movement on pensions dashboard
Department for Work and Pensions published feasibility report on pensions dashboards
3 December 2018
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Committee publishes ABI view on pensions dashboard doubts
Work and Pensions Committee publish letter from the Association of British Insurers
18 July 2018
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FCA's progress on retirement outcomes “glacial”
Work and Pensions Committee Chair comments on Retirment Outcomes Review
28 June 2018
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Questions remain on new law banning pension cold calls
Work and Pensions Committee welcomes changes to law on banning pension cold calls
10 May 2018
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Default pension pathway and single, public pensions dashboard needed
Work and Pensions Committee publishes report on pension freedoms
5 April 2018
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FCA moves on Committee pension transfer advice calls
Work and Pensions Committee Chair comments on FCA report on defined benefit pension transfer advice
26 March 2018
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Correspondence on British Steel Pension Scheme published
Work and Pensions Committee follows up on conclusions from British Steel Pension Scheme report
15 March 2018
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Committee's recommendations incorporated in Bill
Work and Pensions Committee responds to Government's Financial Guidance and Claims Bill
6 March 2018
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Time for urgent action on 'another major misselling scandal'
Work and Pensions Committee publishes report on British Steel Pension Schemes
15 February 2018
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FCA could be sleepwalking into another huge misselling scandal
Work and Pensions Committee publishes correspondence on pension transfer advice
12 January 2018
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Chair seeks justification for BSPS transfer advice
Work and Pensions Committee writes to Active Wealth for details on the advice they gave to workers in the British Steel Pension Scheme
19 December 2017
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Chair questions FCA on British Steel Pension Scheme
Work and Pensions Committee Chair asks the FCA what action it is taking to protect members of the British Steel Pension Scheme
18 December 2017
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Active Wealth UK and Celtic Wealth Management fail to attend
Invited witnesses fail to attend Work and Pensions Committee meeting
13 December 2017
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British Steel Pension Scheme: a 'honeypot for scammers'
Experts questioned on the British Steel Pension Scheme
12 December 2017
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Ban cold calls now to stop pension scammers
Work and Pensions Committee publishes report on pension freedom and choice
11 December 2017
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Committee examines British Steel Pension Scheme
Work and Pensions Committee look into the advice and information given to members of the British Steel Pension Scheme
30 November 2017
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Committee questions Ministers on pension freedoms and choice
Work and Pensions Committee hears from the Treasury and Department of Work and Pensions
15 November 2017
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Committee questions former pensions Ministers on pension freedoms
Work and Pensions Committee examines pension freedoms, advice and guidance services and the pensions market
1 November 2017
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Pension freedoms inquiry launched
Work and Pensions Committee inquiry into whether pension reforms are achieving their objectives
20 September 2017
Total results 20 (page 1 of 1)

Contact us

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  • Email: workpencom@parliament.uk
  • Phone: 020 7219 8976 | 020 7219 1679 (Media)
  • Address: Work and Pensions Committee | House of Commons | London | SW1A 0AA