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46972
star this property registered interest false more like this
star this property date less than 2014-04-03more like thismore than 2014-04-03
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury 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 what estimate they have made of the average charge-out rate of pension advisers in calculating the quantity and quality of advice that will be available to people retiring under the new pension arrangements announced in the 2014 Budget. more like this
star this property tabling member printed
Lord Wills remove filter
star this property uin HL6580 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-04-14more like thismore than 2014-04-14
unstar this property answer text <p><strong>At Budget the government announced a new guarantee that everyone with a defined contribution pension will be offered free and impartial face-to-face guidance on their financial choices in retirement when they retire. </strong><strong>The government is consulting on how best to deliver this guidance as part of its consultation</strong><strong>, ‘Flexibility and Choice in Pensions'.</strong></p><p><strong>In addition, the government will work with the FCA to explore the extent to which regulated advice can be made more affordable through more cost effective delivery, such as through the development of online delivery channels. </strong></p><p> </p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
remove filter
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
260
unstar this property label Biography information for Lord Wills more like this
46973
star this property registered interest false more like this
star this property date less than 2014-04-03more like thismore than 2014-04-03
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury 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 what new measures they will put in place to protect against the mis-selling of financial advice to people retiring under the new pension arrangements announced in the 2014 Budget. more like this
star this property tabling member printed
Lord Wills remove filter
star this property uin HL6581 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-04-14more like thismore than 2014-04-14
unstar this property answer text <p><strong>Alongside the pensions flexibility announced at Budget, the government announced a new guarantee that everyone with a defined contribution pension will be offered free and impartial face to face guidance on their financial choices in retirement when they retire. </strong><strong>The Government is consulting on how best to deliver this guidance as part of its consultation</strong><strong>, ‘Flexibility and Choice in Pensions'.</strong></p><p> </p><p> </p><p><strong>The guidance will be designed to help consumers navigate the options available and is not intended to replace the services of professional financial advice. The government expects that many consumers will go on to seek further advice and</strong><strong> will ensure that the guidance equips consumers to choose the advisory service that suits their needs.</strong></p><p> </p><p><strong>The government has asked the Financial Conduct Authority (FCA) to coordinate the development of robust standards for this guidance and a framework for monitoring compliance.</strong></p><p> </p><p><strong>Professional financial advice is regulated by the FCA. The FCA's statutory objectives and regulatory powers are geared to protect consumers. The FCA has committed to taking a proactive and interventionist approach to retail conduct regulation.</strong></p><p> </p><p> </p>
star this property answering member printed Lord Deighton more like this
star this property question first answered
remove filter
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
260
unstar this property label Biography information for Lord Wills more like this
46974
star this property registered interest false more like this
star this property date less than 2014-04-03more like thismore than 2014-04-03
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury 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 what estimate they have made of the impact on public spending as a result of the new pension arrangements announced in the 2014 Budget. more like this
star this property tabling member printed
Lord Wills remove filter
star this property uin HL6582 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-04-14more like thismore than 2014-04-14
unstar this property answer text <p><strong>The impact will depend on how people choose to use their pension savings, which is difficult to predict.</strong><strong> The Government expects any impact to be small in the context of the other pension measures announced in this Parliament – including State Pension age changes, the introduction of the single tier pension and public service pension reform – which are projected to save around £17 billion in 2030 in today's terms. The estimated net fiscal impact of pension changes announced in this Parliament can be found in Chart 1.12 of the Red Book here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293759/37630_Budget_2014_Web_Accessible.pdf</strong></p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
remove filter
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property attachment
1
star this property file name 3467LW.pdf more like this
star this property title projected tax ipacts of pension arrangements more like this
star this property tabling member
260
unstar this property label Biography information for Lord Wills more like this