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1675076
registered interest false more like this
date less than 2023-12-04more like thismore than 2023-12-04
answering body
Department for Work and Pensions more like this
answering dept id 29 more like this
answering dept short name Work and Pensions remove filter
answering dept sort name Work and Pensions more like this
hansard heading Pension Funds: Advisory Services more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Work and Pensions, with reference to the Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) 2015 Post Implementation Review, published on 4 April 2023, what assessment he has made of the potential implications for his Department's policies of the conclusions of that review. more like this
tabling member constituency City of Durham more like this
tabling member printed
Mary Kelly Foy more like this
uin 5041 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2023-12-12more like thismore than 2023-12-12
answer text <p>The underpinning policy intent behind these regulations and objectives was to ensure members with safeguarded benefits understood the level of security in retirement provided by such benefits and what the member would lose if they were to exchange them for benefits that can be accessed flexibly.</p><p /><p>The Post Implementation Review highlighted that the existing measures remain appropriate and effective. We have however identified that there may be issues with the structure and application of the regulations.</p><p> </p><p>We are currently conducting further work with the Pensions Regulator, the Financial Conduct Authority, and His Majesty’s Treasury to consider if there are possible changes that maintain protection for members and continue to ensure that the intent of the policy is not undermined.</p><p> </p><p>We will be sharing the outcome of this work in due course.</p> more like this
answering member constituency Blackpool North and Cleveleys remove filter
answering member printed Paul Maynard more like this
question first answered
less than 2023-12-12T12:11:48.597Zmore like thismore than 2023-12-12T12:11:48.597Z
answering member
3926
label Biography information for Paul Maynard more like this
tabling member
4753
label Biography information for Mary Kelly Foy more like this