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1130882
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of scrutiny by Independent Governance Committees of the retail funds offered within workplace pensions products. more like this
star this property tabling member constituency Wallasey more like this
star this property tabling member printed
Ms Angela Eagle more like this
star this property uin 262257 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>The Financial Conduct Authority (FCA) introduced rules in 2015 to require contract-based pension providers to set up independent governance committees (IGCs) to address poor consumer outcomes.</p><p>IGCs have a duty to scrutinise the value for money of the provider’s workplace personal pension schemes, taking into account transaction costs, raising concerns and making recommendations to the provider’s board as appropriate. IGCs have a duty to assess whether all the investment choices available, including default options, are suitable for the interests of consumers.</p><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN
262255 more like this
262256 more like this
star this property question first answered
remove maximum value filtermore like thismore than 2019-06-13T13:34:40.01Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
491
unstar this property label Biography information for Ms Angela Eagle more like this
1130881
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will make it his policy that Independent Governance Committees attached to contract-based workplace pensions have a duty to monitor the suitability of the retail fund choices available to scheme members. more like this
star this property tabling member constituency Wallasey more like this
star this property tabling member printed
Ms Angela Eagle more like this
star this property uin 262256 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>The Financial Conduct Authority (FCA) introduced rules in 2015 to require contract-based pension providers to set up independent governance committees (IGCs) to address poor consumer outcomes.</p><p>IGCs have a duty to scrutinise the value for money of the provider’s workplace personal pension schemes, taking into account transaction costs, raising concerns and making recommendations to the provider’s board as appropriate. IGCs have a duty to assess whether all the investment choices available, including default options, are suitable for the interests of consumers.</p><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN
262255 more like this
262257 more like this
star this property question first answered
less than 2019-06-13T13:34:39.963Zmore like thismore than 2019-06-13T13:34:39.963Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
491
unstar this property label Biography information for Ms Angela Eagle more like this
1130880
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that (a) investment choices available to workplace pension customers are regularly reviewed by Independent Governance Committees and (b) those investment choices are aligned with the interests of customers. more like this
star this property tabling member constituency Wallasey more like this
star this property tabling member printed
Ms Angela Eagle more like this
star this property uin 262255 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>The Financial Conduct Authority (FCA) introduced rules in 2015 to require contract-based pension providers to set up independent governance committees (IGCs) to address poor consumer outcomes.</p><p>IGCs have a duty to scrutinise the value for money of the provider’s workplace personal pension schemes, taking into account transaction costs, raising concerns and making recommendations to the provider’s board as appropriate. IGCs have a duty to assess whether all the investment choices available, including default options, are suitable for the interests of consumers.</p><p>In 2016, the FCA reviewed IGCs and found that they were “generally effective” in influencing and advancing cost reductions for members. The review also found that the Independent Project Board’s work in auditing high legacy charges and implementing IGCs had been successful. As a result, a substantial majority of consumers received improved outcomes regarding costs and charges, with 1m consumers receiving reduced costs and charges.</p><p>The FCA has announced that it will undertake a further review of IGCs in 2019/20.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN
262256 more like this
262257 more like this
star this property question first answered
less than 2019-06-13T13:34:39.917Zmore like thismore than 2019-06-13T13:34:39.917Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
491
unstar this property label Biography information for Ms Angela Eagle more like this
1130883
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential conflict of interests in the business model of vertically integrated companies offering retail investment platforms, asset management and workplace pensions products. more like this
star this property tabling member constituency Wallasey more like this
star this property tabling member printed
Ms Angela Eagle more like this
star this property uin 262258 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the Member by letter. A copy of the letter will be placed in the Library of the House.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
less than 2019-06-13T13:30:26.157Zmore like thismore than 2019-06-13T13:30:26.157Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
491
unstar this property label Biography information for Ms Angela Eagle more like this
1131004
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps he is taking to ensure that insurance companies do not unfairly discriminate against consumers with (a) historical and (b) current mental health conditions. more like this
star this property tabling member constituency Livingston more like this
star this property tabling member printed
Hannah Bardell more like this
star this property uin 262447 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>The Government is determined that all insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.</p><p> </p><p>The FCA has placed access and vulnerability at the core of the its Mission and Business Plan. For example, it is currently exploring options for signposting consumers with pre-existing and historic medical conditions, such as mental health conditions, to specialist travel insurance providers so that these consumers are better able to access suitable insurance.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
less than 2019-06-13T13:27:04.977Zmore like thismore than 2019-06-13T13:27:04.977Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4486
unstar this property label Biography information for Hannah Bardell more like this
1131016
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pension Funds: Consumer Information more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of advice given to retirees accessing their pension funds for the first time. more like this
star this property tabling member constituency Newcastle-under-Lyme more like this
star this property tabling member printed
Paul Farrelly more like this
star this property uin 262271 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property answer text <p>The Government works closely with the Financial Conduct Authority (FCA), the independent financial services regulator, to ensure that the market for pensions advice works well, competitively and fairly, especially as consumers now have a wider variety of choice, with the onset of pension freedoms.</p><p>In 2017, the FCA published the results from its Assessing Suitability Review (ASR I) which looked at pension and investment advice delivered during 2015. The review showed that generally financial advice was suitable in 93.1% of cases, across a statistically representative sample of the entire market. The FCA are undertaking further work looking at the market for pensions transfer advice.</p><p>In August 2015 HM Treasury and the FCA launched the Financial Advice Market Review (FAMR) and have since then implemented its recommendations to ensure the financial advice market works better for consumers. The government and FCA are conducting a review of FAMR throughout 2019.</p><p>The Government is also committed to ensuring that people have access to free-to-access financial guidance and information on the options available to them when accessing their Defined Contribution pension, which is why PensionWise, now part of the Money and Pensions Service (MAPS), was set up in 2015.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
less than 2019-06-13T13:25:01.897Zmore like thismore than 2019-06-13T13:25:01.897Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1436
unstar this property label Biography information for Paul Farrelly more like this
1129597
star this property registered interest true more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Health Insurance more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the effect of changes in the size of the health insurance market on the NHS. more like this
star this property tabling member constituency North Warwickshire more like this
star this property tabling member printed
Craig Tracey more like this
star this property uin 260078 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-12more like thismore than 2019-06-12
unstar this property answer text <p>The government publishes assessments of all tax changes at fiscal events. This includes examining the economic and business impacts. The assessment for the last change in Insurance Premium Tax (announced at Autumn Statement 2016) can be found here:</p><p><a href="https://www.gov.uk/government/publications/insurance-premium-tax-increase-of-standard-rate/insurance-premium-tax-increase-of-standard-rate" target="_blank">https://www.gov.uk/government/publications/insurance-premium-tax-increase-of-standard-rate/insurance-premium-tax-increase-of-standard-rate</a></p><p> </p><p>These costings are certified by the Office for Budget Responsibility.</p><p> </p><p>The government keeps all taxes under review and remains in regular discussion with the insurance industry and other interested parties, including the Financial Conduct Authority (FCA), on the provision of insurance in the UK.</p><p> </p><p>The government does not have a view on the impact of the size of the health insurance market on the NHS.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN 260077 more like this
star this property question first answered
less than 2019-06-12T13:12:58.17Zmore like thismore than 2019-06-12T13:12:58.17Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4509
unstar this property label Biography information for Craig Tracey more like this
1129596
star this property registered interest true more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Health Insurance: Insurance Premium Tax more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the effect of changes in the rate of Insurance Premium Tax on the sustainability of the health insurance market. more like this
star this property tabling member constituency North Warwickshire more like this
star this property tabling member printed
Craig Tracey more like this
star this property uin 260077 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-12more like thismore than 2019-06-12
unstar this property answer text <p>The government publishes assessments of all tax changes at fiscal events. This includes examining the economic and business impacts. The assessment for the last change in Insurance Premium Tax (announced at Autumn Statement 2016) can be found here:</p><p><a href="https://www.gov.uk/government/publications/insurance-premium-tax-increase-of-standard-rate/insurance-premium-tax-increase-of-standard-rate" target="_blank">https://www.gov.uk/government/publications/insurance-premium-tax-increase-of-standard-rate/insurance-premium-tax-increase-of-standard-rate</a></p><p> </p><p>These costings are certified by the Office for Budget Responsibility.</p><p> </p><p>The government keeps all taxes under review and remains in regular discussion with the insurance industry and other interested parties, including the Financial Conduct Authority (FCA), on the provision of insurance in the UK.</p><p> </p><p>The government does not have a view on the impact of the size of the health insurance market on the NHS.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN 260078 more like this
star this property question first answered
less than 2019-06-12T13:12:58.11Zmore like thismore than 2019-06-12T13:12:58.11Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4509
unstar this property label Biography information for Craig Tracey more like this
1129772
star this property registered interest false more like this
star this property date less than 2019-06-04more like thismore than 2019-06-04
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Cash Dispensing: Wolverhampton North East more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, how many free to use ATMs are located in Wolverhampton North East Constituency; and how many free to use ATMs there were in that constituency in (a) 2010 and (b) 2015. more like this
star this property tabling member constituency Wolverhampton North East more like this
star this property tabling member printed
Emma Reynolds more like this
star this property uin 259973 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-12more like thismore than 2019-06-12
unstar this property answer text <p>The Government does not hold this information. Information on ATM numbers by Parliamentary Constituency for recent periods is publicly available on the LINK website. Data on the total stock of ATMs in the UK and how this has changed each year since 1998 – including the split between free-to-use and pay-to-use ATMs – is also available online. Furthermore, LINK publish monthly data on their Financial Inclusion Programme, and the numbers of free-to-use ATMs 1 kilometre or further from the next nearest free-to-use ATM.</p><p> </p><p>The Government-established Payment Systems Regulator (PSR) continues to monitor developments in ATM provision, and has used its powers to hold LINK to account over its commitments to preserve the broad geographic spread of the ATM network.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
less than 2019-06-12T12:51:08.513Zmore like thismore than 2019-06-12T12:51:08.513Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4077
unstar this property label Biography information for Emma Reynolds more like this
1129258
star this property registered interest false more like this
star this property date less than 2019-06-03more like thismore than 2019-06-03
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance: Misrepresentation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps (a) his Department and (b) the FCA is taking to raise awareness of the ability of the next-of-kin of deceased persons to bring a complaint for the mis-selling of PPI and their right to reclaim. more like this
star this property tabling member constituency Crewe and Nantwich more like this
star this property tabling member printed
Laura Smith more like this
star this property uin 259408 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-11more like thismore than 2019-06-11
unstar this property answer text <p>The Government has been clear that the mis-selling of Payment Protection Insurance (PPI) was wrong, and affected consumers should receive redress.</p><p> </p><p>The deadline for making PPI claims and supporting consumers in making PPI claims are matters for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has therefore been passed on to the FCA who will reply directly to the honourable member. A copy of their response will be placed in the Library of the House.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property grouped question UIN 259409 more like this
star this property question first answered
less than 2019-06-11T13:45:31.827Zmore like thismore than 2019-06-11T13:45:31.827Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4648
unstar this property label Biography information for Laura Smith more like this