Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

453846

registered interest
date	22/02/2016
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	Pension Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential merits of providing a fiduciary duty for the governance committees of pension funds to their members.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	27818
answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>Under Financial Conduct Authority (FCA) rules introduced in April 2015, independent governance committees (IGCs) have a clear duty to challenge providers on the value for money of their workplace pension schemes, acting in members’ interests, raising concerns and making recommendations as appropriate. The provider must also make arrangements for member views to be directly represented to the IGC.</p><p> </p><p>The provider’s board has a “comply or explain” duty in response to recommendations from the IGC and if the IGC is not content with the board’s response it can escalate to the FCA, to members of the scheme and to the public. When coupled with the IGC’s duty to act in members’ interests, this provides a practical and direct way of ensuring good member outcomes.</p> answering member constituency North Swindon answering member printed Justin Tomlinson question first answered 29/02/2016 14:51:03 answering member 4105 label Biography information for Justin Tomlinson
tabling member	4356 label Biography information for Angela Rayner

453851

registered interest
date	22/02/2016
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	Pension Funds: Trade Unions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 February 2016 to Question 26069, whether trades unions which are not formally recognised by an employer will be entitled to request and receive the Chair's Statement.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	27809
answer	answer is ministerial correction date of answer 25/02/2016 answer text <p>The Government remains committed to ensuring that members of pension schemes are able to obtain information about the costs and charges which they bear. Although it is not a legal requirement, the Government expects that many schemes will choose to publish their annual Chair’s Statement. In due course, the Government intends to make regulations requiring information about scheme costs and charges to be published.</p><p> </p><p>Trade unions that are recognised to any extent for the purposes of collective bargaining in relation to members of the scheme are entitled to receive a copy of the Chair’s Statement. Trade unions which do not meet these criteria are not entitled to receive a copy of the Chair’s Statement. However, beneficiaries of pension schemes who are members of trade unions which are not recognised for collective bargaining purposes may still request the information and pass it on to their union or any other person.</p><p> </p><p>We intend to publish a summary of the evidence received on transaction costs in pension schemes when we announce our next steps, which will follow in due course.</p> answering member constituency North Swindon answering member printed Justin Tomlinson grouped question UIN 27810 27811 question first answered 25/02/2016 15:13:31 answering member 4105 label Biography information for Justin Tomlinson
tabling member	4356 label Biography information for Angela Rayner

453853

registered interest
date	22/02/2016
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	Pension Funds: Costs
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 February 2016 to Question 26069, when the Government and the Financial Conduct Authority plan to publish the evidence received on transaction costs for pension trusts; and what the timetable is for determining the next steps referred to.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	27810
answer	answer is ministerial correction date of answer 25/02/2016 answer text <p>The Government remains committed to ensuring that members of pension schemes are able to obtain information about the costs and charges which they bear. Although it is not a legal requirement, the Government expects that many schemes will choose to publish their annual Chair’s Statement. In due course, the Government intends to make regulations requiring information about scheme costs and charges to be published.</p><p> </p><p>Trade unions that are recognised to any extent for the purposes of collective bargaining in relation to members of the scheme are entitled to receive a copy of the Chair’s Statement. Trade unions which do not meet these criteria are not entitled to receive a copy of the Chair’s Statement. However, beneficiaries of pension schemes who are members of trade unions which are not recognised for collective bargaining purposes may still request the information and pass it on to their union or any other person.</p><p> </p><p>We intend to publish a summary of the evidence received on transaction costs in pension schemes when we announce our next steps, which will follow in due course.</p> answering member constituency North Swindon answering member printed Justin Tomlinson grouped question UIN 27809 27811 question first answered 25/02/2016 15:13:31 answering member 4105 label Biography information for Justin Tomlinson
tabling member	4356 label Biography information for Angela Rayner

453854

registered interest
date	22/02/2016
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	Pension Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 February 2016 to Question 26069, for what reason the Chair's Statement must be requested by beneficiaries rather than provided automatically.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	27811
answer	answer is ministerial correction date of answer 25/02/2016 answer text <p>The Government remains committed to ensuring that members of pension schemes are able to obtain information about the costs and charges which they bear. Although it is not a legal requirement, the Government expects that many schemes will choose to publish their annual Chair’s Statement. In due course, the Government intends to make regulations requiring information about scheme costs and charges to be published.</p><p> </p><p>Trade unions that are recognised to any extent for the purposes of collective bargaining in relation to members of the scheme are entitled to receive a copy of the Chair’s Statement. Trade unions which do not meet these criteria are not entitled to receive a copy of the Chair’s Statement. However, beneficiaries of pension schemes who are members of trade unions which are not recognised for collective bargaining purposes may still request the information and pass it on to their union or any other person.</p><p> </p><p>We intend to publish a summary of the evidence received on transaction costs in pension schemes when we announce our next steps, which will follow in due course.</p> answering member constituency North Swindon answering member printed Justin Tomlinson grouped question UIN 27809 27810 question first answered 25/02/2016 15:13:31 answering member 4105 label Biography information for Justin Tomlinson
tabling member	4356 label Biography information for Angela Rayner

453855

registered interest
date	22/02/2016
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	Pension Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what plans he has to review the governance arrangements of pension funds.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	27790
answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>The draft Occupational Pension Schemes (Scheme Administration) (Amendment) Regulations 2016 laid before Parliament on 1 February, include a review provision as required by the Small Business, Enterprise and Employment Act 2015 which will oblige the Secretary of State to carry out reviews at least every 5 years of all the governance requirements for occupational pension schemes covered in Part V of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 as amended by this instrument. Subject to Parliamentary approval the draft 2016 Regulations will come into force on 6 April 2016. We will consider in due course how this review would work in practice.</p><p> </p><p>On the governance of workplace personal pension schemes, the Financial Conduct Authority propose to carry out a review of the effectiveness of independent governance committees in 2017.</p> answering member constituency North Swindon answering member printed Justin Tomlinson question first answered 29/02/2016 14:11:52 answering member 4105 label Biography information for Justin Tomlinson
tabling member	4356 label Biography information for Angela Rayner