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1171034

registered interest
date	15/01/2020
answering body	Ministry of Defence
answering dept id	11
answering dept short name	Defence
answering dept sort name	Defence
hansard heading	Armed Forces: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Defence, with reference to the Answer of 21 October 2019 to Question 175 on Armed Forces: Pensions, whether he has plans to review the process by which members of the Armed Forces Pension Scheme transferred their pension benefits to non-defined benefit schemes between 2010 and 2015.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	3749
answer	answer is ministerial correction date of answer 20/01/2020 answer text <p>The Ministry of Defence (MOD) has no such plans. It is deeply regrettable that some Service personnel incurred a monetary loss when they made the decision to transfer their Armed Forces' pension benefits to non-defined benefit schemes in the period 2010 to 2015. However, this is an issue which is common to all public sector pension schemes, not just the Armed Forces.</p><p>The transfer of an individual's pension to another pension scheme was, and remains, the decision and the right of the scheme member. It would have been unacceptable for the Armed Forces' pension schemes to have denied members' wishes or challenged them following the satisfactory completion of the necessary checks. Scheme members have always been encouraged by Veterans UK to seek advice from an independent financial adviser prior to transfer.</p><p>I am satisfied that MOD officials applied due diligence throughout the pension transfer process and acted in line with the recommendations of the Pensions Regulator by providing the appropriate guidance, acting only with the written authorisation of individual members.</p> answering member constituency Plymouth, Moor View answering member printed Johnny Mercer question first answered 20/01/2020 17:12:23 answering member 4485 label Biography information for Johnny Mercer
tabling member	4243 label Biography information for Dan Jarvis

1148804

registered interest
date	14/10/2019
answering body	Ministry of Defence
answering dept id	11
answering dept short name	Defence
answering dept sort name	Defence
hansard heading	Armed Forces: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Defence, whether his Department has made an estimate of the monetary value lost by members of the Armed Forces Pension Scheme who transferred pension benefits out of that scheme to non-defined benefit schemes prior to the public service pensions reforms of 2015 coming into force; and if he will make a statement.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	183
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>The Ministry of Defence provides comprehensive, non-contributory pension schemes for the Armed Forces in recognition of their dedication and service. Prior to the public sector pension reforms of 2015 which prohibited Service personnel from making transfers to non-defined benefit schemes, Service personnel had the right to transfer their pension benefits to any HMRC registered scheme. Between 2010 and 2015, some 4,600 members of the Armed Forces Pension Schemes transferred their pension benefits to non-defined benefit schemes, such as other private or occupational pension schemes.</p><p> </p><p>The total number of complaints received is not held in the format requested, as not all non-defined benefit schemes have resulted in a loss no estimate has been made of the potential monetary value lost to former members of the Armed Forces Pension Scheme.</p><p> </p><p>The Department is not authorised to provide financial advice however copies of all transfer documentation are provided free of charge to those who believe they may have incurred a loss from the transfer of their benefits as a result of pension liberation or mis-selling.</p><p> </p><p> </p> answering member constituency Plymouth, Moor View answering member printed Johnny Mercer grouped question UIN 175 182 184 question first answered 21/10/2019 10:56:10 answering member 4485 label Biography information for Johnny Mercer
tabling member	4243 label Biography information for Dan Jarvis

1148807

registered interest
date	14/10/2019
answering body	Ministry of Defence
answering dept id	11
answering dept short name	Defence
answering dept sort name	Defence
hansard heading	Armed Forces: Workplace Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Defence, what assistance Veterans UK is providing to members of the Armed Forces Pension Scheme who incurred loss of their pension benefits following a transfer out of that scheme.
tabling member constituency	Barnsley Central
tabling member printed	Dan Jarvis
uin	184
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>The Ministry of Defence provides comprehensive, non-contributory pension schemes for the Armed Forces in recognition of their dedication and service. Prior to the public sector pension reforms of 2015 which prohibited Service personnel from making transfers to non-defined benefit schemes, Service personnel had the right to transfer their pension benefits to any HMRC registered scheme. Between 2010 and 2015, some 4,600 members of the Armed Forces Pension Schemes transferred their pension benefits to non-defined benefit schemes, such as other private or occupational pension schemes.</p><p> </p><p>The total number of complaints received is not held in the format requested, as not all non-defined benefit schemes have resulted in a loss no estimate has been made of the potential monetary value lost to former members of the Armed Forces Pension Scheme.</p><p> </p><p>The Department is not authorised to provide financial advice however copies of all transfer documentation are provided free of charge to those who believe they may have incurred a loss from the transfer of their benefits as a result of pension liberation or mis-selling.</p><p> </p><p> </p> answering member constituency Plymouth, Moor View answering member printed Johnny Mercer grouped question UIN 175 182 183 question first answered 21/10/2019 10:56:10 answering member 4485 label Biography information for Johnny Mercer
tabling member	4243 label Biography information for Dan Jarvis