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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 remove filter
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 remove filter
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 remove maximum value filtermore 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 more like this
star this property question first answered
less than 2019-06-13T13:25:01.897Zmore like thismore than 2019-06-13T13:25:01.897Z
unstar 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