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1550272

registered interest
date	09/12/2022
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what steps his Department is taking to increase (a) private and (b) workplace pension contributions.
tabling member constituency	Leicester South
tabling member printed	Jonathan Ashworth
uin	107096
answer	answer is ministerial correction date of answer 14/12/2022 answer text <p>We have been clear that the next step for Automatic Enrolment is the implementation of the 2017 Review measures in the mid-2020s. These measures will improve pension eligibility and contribution levels, in particular for low and medium earners.</p><p> </p><p>Alongside this, we are supporting better planning for retirement saving and financial well-being – Pensions dashboards will help individuals plan for later life.</p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 107097 question first answered 14/12/2022 12:33:02 answering member 4780 label Biography information for Laura Trott
tabling member	4244 label Biography information for Jonathan Ashworth

1538931

registered interest
date	02/11/2022
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact on UK pension funds of the fall of the Hang Seng Index.
tabling member printed	Lord Alton of Liverpool
uin	HL3135
answer	answer is ministerial correction date of answer 16/11/2022 answer text <p>UK pension schemes investment in Asian markets, and therefore exposure to the fall of the Hang Seng index, is low. Overall, our UK Pension schemes operate over very long timescales and have balanced and diversified investment strategies. They are therefore well placed to navigate any periods of volatility in global markets.</p> answering member printed Baroness Stedman-Scott question first answered 16/11/2022 14:13:16 answering member 4174 label Biography information for Baroness Stedman-Scott
tabling member	738 label Biography information for Lord Alton of Liverpool

1535736

registered interest
date	25/10/2022
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, in what circumstances a man's pension that is subject to a Section 32 buyout policy will not pay out until the age of 65; and for what reasons there are restrictions on pensions subject to a buyout policy.
tabling member constituency	East Ham
tabling member printed	Sir Stephen Timms
uin	70946
answer	answer is ministerial correction date of answer 31/10/2022 answer text <p>A Section 32 buy-out policy is an individual contract between an individual and usually an insurance company, purchased using funds transferred from an occupational pension scheme.</p><p> </p><p>Such a contract can and may pay out before the age of 65 for a man. However, a Section 32 policy may contain a Guaranteed Minimum Pension (GMP), and where it does, it must, as a minimum, pay a GMP from age 65 for a man or 60 for a woman, regardless of investment performance. Where there are insufficient funds to pay additional benefits, a Section 32 policy may therefore pay out only the GMP from these ages. This is a valuable guarantee, as it means that a person’s retirement income cannot decline below the amount of the GMP.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 31/10/2022 17:12:20 answering member 4780 label Biography information for Laura Trott
tabling member	163 label Biography information for Sir Stephen Timms