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385303
star this property registered interest false more like this
star this property date remove maximum value filtermore like thisremove minimum value filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
unstar this property answering dept sort name Work and Pensions more like this
star this property hansard heading Pension Funds more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government, further to the remarks by Lord Bourne of Aberystwyth on 7 January (HL Deb, col 432), when they plan to consult on improving transparency for pension savers regarding where their money is invested and how rights attached to it are being exercised; and when they plan to consider how secondary legislation could be used to ensure greater transparency for pension savers. more like this
star this property tabling member printed
Lord Harrison more like this
unstar this property uin HL786 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2015-07-06more like thismore than 2015-07-06
unstar this property answer text <p /> <p>The Government is committed to ensuring greater transparency for pension savers.</p><p> </p><p>From April this year, workplace schemes are required to report on the value delivered by costs and charges in their scheme for the first time. Building on this, the Department for Work and Pensions and the Financial Conduct Authority ran a joint Call for Evidence ‘Transaction Cost Disclosure: Improving Transparency in Workplace Pensions’, considering how transaction costs could be disclosed in a standardised way. This is the first phase of work required to meet duties under Section 44 of the Pensions Act 2014 to require transaction costs to be disclosed to members and others; and transaction costs and administration charges to be published. The Government is currently considering responses to the Call for Evidence.</p><p> </p><p>Transparency is not just about costs and charges. Earlier this year the Government consulted on changes to the Occupational Pension Schemes Investment Regulations requiring trustees to report how they take financial and non-financial factors into account when investing, and their schemes stewardship policy. The Government is currently considering responses to the consultation.</p><p> </p><p>The Government intends to consult on any secondary legislation required following these exercises later this year, and will consider what further proposals may be needed to ensure greater transparency for pension savers including consideration both of its duties under the Pensions Act 2014 and the remarks made in debates on 7 January.</p>
star this property answering member printed Baroness Altmann remove filter
star this property question first answered
less than 2015-07-06T12:06:11.487Zmore like thismore than 2015-07-06T12:06:11.487Z
star this property answering member
4533
star this property label Biography information for Baroness Altmann more like this
star this property tabling member
2488
unstar this property label Biography information for Lord Harrison more like this