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166087

registered interest
date	25/11/2014
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	Workplace Pensions: Fees and Charges
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they are measuring the impact of auto-enrolment on fees charged by the investment management industry; and what plans they have to track any changes.
tabling member printed	Lord Mendelsohn
uin	HL3145
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p /> <p>The Government’s Command Paper, ‘Better Workplace Pensions: Further measures for savers’, published in March, set out a range of measures including a cap on charges in default fund arrangements, a ban on inappropriate charges and proposals to introduce minimum governance standards and improve transparency across workplace defined contribution schemes.</p><p> </p><p>Following this, Government launched its consultation on draft regulations on governance and charges in occupational pension schemes in October 2014. Subject to Parliamentary approval, the majority of this legislation will come into force from April 2015, alongside Financial Conduct Authority (FCA) rules in relation to workplace personal pension schemes where appropriate. From April 2015, the Government intends to introduce a charge cap on the default funds of qualifying schemes, set at 0.75 per cent of funds under management and the first phase of enhanced transparency with trustees and Independent Governance Committees (IGCs) being required to report on costs and charges for the first time.</p><p> </p><p>In 2015 Government will consult on regulations under duties in the Pensions Act 2014 requiring information about transaction costs to be disclosed to members and others, and the publication of costs and charges information. The FCA also intends to consult on amending their own rules to introduce equivalent enhanced transparency provisions for workplace personal pension schemes during 2015. The Government has also set out its plans to review the level of the default fund charge cap, to see if it should be lowered, and also whether it should include some or all of the transaction costs that are ultimately borne by members within a cap. This review will take place in 2017.</p><p> </p><p>Taken together the combined effect of these measures on charges, governance and transparency and the Government’s commitment to a review should ensure that savers are being enrolled into workplace schemes that are well run and in members’ interests.</p> answering member printed Lord Freud question first answered 08/12/2014 12:19:52 answering member 3893 label Biography information for Lord Freud
tabling member	4286 label Biography information for Lord Mendelsohn

166089

registered interest
date	25/11/2014
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	Workplace Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have to review the basis on which projections of potential returns are used by the investment management industry in communications with pension holders.
tabling member printed	Lord Mendelsohn
uin	HL3147
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p /> <p>Since 6 April 2003, certain money purchase pension arrangements have been required to provide members with Statutory Money Purchase Illustrations (SMPIs). Legislation requires that statutory illustrations are produced in accordance with guidance prepared by a prescribed body approved by the Secretary of State for Work and Pensions and by the Department for Social Development in Northern Ireland.</p><p>The Financial Reporting Council (FRC) is the prescribed body and has been since 6 April 2007. The FRC fulfils its obligations through the publication of Actuarial Standard Technical Memorandum AS TM1: Statutory Money Purchase Illustrations (AS TM1). It reviews AS TM1 regularly and the last completed review was carried out in 2013 following the introduction of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 (SI 2013/2734) which came into force on 6 April 2014. The AS TM1 specifies that the investment return should take into account the current and anticipated future investment strategy of the member’s funds over the period to retirement and be consistent from year to year, with the rationale documented and made available to members on request.</p><p> </p><p>In addition, Financial Conduct Authority (FCA) rules require a projection at point of sale for contract based pensions. The investment return must reflect the investment potential of the (expected) underlying assets, subject to an overall cap of 5%pa. Flanking projections must be provided using returns which vary by +/- 3%. The FCA has a public commitment to review the basis every 4 years and the next review is due in 2015. The FCA do not require further projections during the lifetime of the contract as pension scheme members will receive statutory statements prepared under DWP legislation. However, where a provider chooses to provide additional projections, they must follow the same basis as point of sale projections.</p> answering member printed Lord Freud question first answered 08/12/2014 12:26:30 answering member 3893 label Biography information for Lord Freud
tabling member	4286 label Biography information for Lord Mendelsohn

166108

registered interest
date	25/11/2014
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Devolution: England
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will introduce legislation to create an English parliament; and if not, why not.
tabling member printed	Lord Stoddart of Swindon
uin	HL3166
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p>The Government is considering the various constitutional issues that arise from further devolution, including the so-called West Lothian question.</p><p>Discussions on this issue and other proposals relating to 'the English question' are ongoing. The Government does not believe at present there is public support for a separate English Parliament which would increase the cost of politics and the number of politicians.</p><p> </p> answering member printed Lord Wallace of Saltaire question first answered 08/12/2014 17:54:29 answering member 1816 label Biography information for Lord Wallace of Saltaire
tabling member	950 label Biography information for Lord Stoddart of Swindon

166120

registered interest
date	25/11/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Higher Education: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government which department in which administration based where is responsible for all aspects of the funding and operations of the two universities in Northern Ireland.
tabling member printed	Lord Laird
uin	HL3178
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p>The Northern Ireland Department for Employment and Learning has responsibility for higher education in Northern Ireland, including providing institutional funding for research.</p><p> </p><p> </p><p> </p><p>In addition, as the UK operates a dual support system for funding research in universities, the Department for Business, Innovation and Skills, through Research Councils UK, competitively provides grants for individual research projects and programmes across the UK.</p><p> </p><p> </p><p> </p> answering member printed Baroness Williams of Trafford question first answered 08/12/2014 17:53:57 answering member 4311 label Biography information for Baroness Williams of Trafford
tabling member	2479 label Biography information for Lord Laird

166121

registered interest
date	25/11/2014
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	UK Membership of EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether, in a referendum on the United Kingdom membership of the European Union, those United Kingdom citizens who live in other European Union countries will be allowed a vote.
tabling member printed	Lord Laird
uin	HL3179
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p><strong>The franchise for any referendum is set out in primary legislation which establishes that referendum. It will therefore be for Parliament to agree the franchise to be used in any future referendum on UK membership of the European Union. </strong></p><p> </p> answering member printed Lord Wallace of Saltaire question first answered 08/12/2014 17:56:09 answering member 1816 label Biography information for Lord Wallace of Saltaire
tabling member	2479 label Biography information for Lord Laird

166288

registered interest
date	25/11/2014
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Science: Education
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what support her Department is providing to the Your Life campaign promoting take-up of maths and science subjects.
tabling member constituency	Mid Worcestershire
tabling member printed	Sir Peter Luff
uin	906332
answer	answer is ministerial correction date of answer 08/12/2014 answer text <p>The Your Life campaign is independently led, with sponsorship from business, and backed by strong support across Government. It is a three-year campaign to ensure the UK has the maths and science skills it needs to succeed in a competitive global economy.</p><p>A 2014 CBI/Pearson report found that STEM skills are in widespread demand and nearly two in five firms that need employees with STEM skills and knowledge currently have difficulties recruiting staff.</p><p>It is essential that students leave school as fully-rounded individuals, with experience of a broad and balanced curriculum to prepare them for life in modern Britain. Maths and science are valuable skills to have, no matter what they choose to pursue.</p> answering member constituency Loughborough answering member printed Nicky Morgan question first answered 08/12/2014 16:03:52 answering member 4027 label Biography information for Baroness Morgan of Cotes
tabling member	268 label Biography information for Sir Peter Luff