The overarching objective of the advice requirement is to ensure that members understand the financial implications of transferring to a scheme with flexible benefits. The process enables a clear view of the choices available to the individual and the longer term risks attached to accessing flexible benefits.<\/p>
<\/p>
The government has to consider the needs of all pension savers regardless of their individual circumstances and it believes that enabling members to make informed investment decisions will yield greater long term financial stability for the individual. It is not therefore policy to introduce an opt out option to this part of the transfer process.<\/p>
<\/p>
In forming this view, DWP has engaged with pensions industry bodies, the regulators and consumer groups to review The Pension Schemes Act 2015 (Transitional Provisions and Appropriate Independent Advice) Regulations 2017. The review considered how the advice requirement is working in practice and if there are any unintended consequences. A report of the review was published in June 2023 and is available on gov.uk.<\/p>
<\/p>
Whilst the report concluded that the existing measures remain appropriate and effective, the department will continue to work closely with HMT and FCA to consider changes to the regulations that will improve the transfer process whilst ensuring that members continue to receive an appropriate level of protection and support.<\/p>
<\/strong><\/p> <\/strong><\/p> <\/strong><\/p> <\/strong><\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3926", "label" : {"_value" : "Biography information for Paul Maynard"}
}
, "answeringMemberConstituency" : {"_value" : "Blackpool North and Cleveleys"}
, "answeringMemberPrinted" : {"_value" : "Paul Maynard"}
, "dateOfAnswer" : {"_value" : "2023-11-15", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-11-15T16:03:59.677Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "29"}
, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2023-11-09", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Workplace Pensions"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential merits of introducing an opt-out option for members of pension schemes with safeguarded benefits who are required to take advice under section 48 of the Pension Schemes Act 2015.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4488", "label" : {"_value" : "Biography information for Martyn Day"}
}
, "tablingMemberConstituency" : {"_value" : "Linlithgow and East Falkirk"}
, "tablingMemberPrinted" : [{"_value" : "Martyn Day"}
], "uin" : "1198"}
, {"_about" : "http://data.parliament.uk/resources/1462644", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1462644/answer", "answerText" : {"_value" : " Universal Credit is a 24/7 digital service that allows claimants to manage their own data and account online. Claimants can check their Universal Credit benefit payments, notify us of changes and record notes on the online journal facility. The journal is primarily used to support work search activity and not every entry requires a response.<\/p> The Case Manager or Work Coach receives a notification in real time when a claimant submits an entry. Journal entries are monitored daily as part of our case management approach.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4033", "label" : {"_value" : "Biography information for David Rutley"}
}
, "answeringMemberConstituency" : {"_value" : "Macclesfield"}
, "answeringMemberPrinted" : {"_value" : "David Rutley"}
, "dateOfAnswer" : {"_value" : "2022-05-20", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2022-05-20T13:32:47.087Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "29"}
, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2022-05-12", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Universal Credit"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Work and Pensions, what the average response time for online journal responses was in the latest period for which data is available by number of days, hours and minutes.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4418", "label" : {"_value" : "Biography information for Justin Madders"}
}
, "tablingMemberConstituency" : {"_value" : "Ellesmere Port and Neston"}
, "tablingMemberPrinted" : [{"_value" : "Justin Madders"}
], "uin" : "1198"}
, {"_about" : "http://data.parliament.uk/resources/1314599", "AnsweringBody" : [{"_value" : "Women and Equalities"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1314599/answer", "answerText" : {"_value" : " The Government recognises that homelessness amongst LGBT people is an important issue and is determined to understand it better.<\/p> The research on LGBT homelessness aims to improve understanding of the needs of people who are homeless and LGBT. It also looks at how housing and support services are being delivered to LGBT people and how they can be improved to better meet their needs. The research takes into account the experiences of LGBT people of a range of ages and with experiences of different forms of homelessness.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4597", "label" : {"_value" : "Biography information for Kemi Badenoch"}
}
, "answeringMemberConstituency" : {"_value" : "Saffron Walden"}
, "answeringMemberPrinted" : {"_value" : "Kemi Badenoch"}
, "dateOfAnswer" : {"_value" : "2021-05-21", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2021-05-21T16:45:33.793Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "31"}
, "answeringDeptShortName" : {"_value" : "Women and Equalities"}
, "answeringDeptSortName" : {"_value" : "Women and Equalities"}
, "date" : {"_value" : "2021-05-13", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "LGBT+ People: Homelessness"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Minister for Women and Equalities, with reference to the 2018 LGBT+ Action Plan, whether the research carried out by her Department and the Ministry of Housing, Communities and Local Government on LGBT+ homelessness, also includes research on (a) LGBT+ youth homelessness and (b) the experiences of LGBT+ youth who are hidden homeless.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4676", "label" : {"_value" : "Biography information for Marsha De Cordova"}
}
, "tablingMemberConstituency" : {"_value" : "Battersea"}
, "tablingMemberPrinted" : [{"_value" : "Marsha De Cordova"}
], "uin" : "1198"}
, {"_about" : "http://data.parliament.uk/resources/1178043", "AnsweringBody" : [{"_value" : "Department for International Trade"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1178043/answer", "answerText" : {"_value" : " All animal products imported into the UK under existing or future free trade agreements will, as now, have to comply with our food safety standards. We will use the opportunities provided through future free trade agreements and wider international engagement to promote high animal welfare standards among our international trading partners.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3922", "label" : {"_value" : "Biography information for Sir Conor Burns"}
}
, "answeringMemberConstituency" : {"_value" : "Bournemouth West"}
, "answeringMemberPrinted" : {"_value" : "Conor Burns"}
, "dateOfAnswer" : {"_value" : "2020-02-24", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2020-02-24T14:58:52.823Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "202"}
, "answeringDeptShortName" : {"_value" : "International Trade"}
, "answeringDeptSortName" : {"_value" : "International Trade"}
, "date" : {"_value" : "2020-02-12", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Trade Agreements: Animal Welfare"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for International Trade, whether she has plans to ensure the exclusion of goods produced to animal welfare standards that are lower than the UK standard from negotiations on future trade deals, and if she will make a statement.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1491", "label" : {"_value" : "Biography information for Kerry McCarthy"}
}
, "tablingMemberConstituency" : {"_value" : "Bristol East"}
, "tablingMemberPrinted" : [{"_value" : "Kerry McCarthy"}
], "uin" : "1198"}
, {"_about" : "http://data.parliament.uk/resources/732572", "AnsweringBody" : [{"_value" : "Department for Culture, Media and Sport"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/732572/answer", "answerText" : {"_value" : " When a Universal Service Provider (USP) of public call boxes in the street - BT or, in the Kingston upon Hull area, KCom - wishes to remove one, the provider must inform the appropriate local authority, which then must consult with local people. The factors that weigh with local authorities in these cases commonly include: the call box's possible use in emergency situations; the quality of mobile signals in the area; and if people living nearby might not have access to mobile telephones, for whatever reason.<\/p> <\/p> Since it is better for such matters to be considered locally on a case-by-case basis, the Secretary of State has made no overall assessment of the role of public telephones in the situations referred to.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4070", "label" : {"_value" : "Biography information for Matt Hancock"}
}
, "answeringMemberConstituency" : {"_value" : "West Suffolk"}
, "answeringMemberPrinted" : {"_value" : "Matt Hancock"}
, "dateOfAnswer" : {"_value" : "2017-06-30", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-06-30T12:18:24.917Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "10"}
, "answeringDeptShortName" : {"_value" : "Culture, Media and Sport"}
, "answeringDeptSortName" : {"_value" : "Culture, Media and Sport"}
, "date" : {"_value" : "2017-06-26", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Public Telephones"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Culture, Media and Sport, if she will make an assessment of the effectiveness of universal service obligation to provide a reasonable number of working telephone boxes where they are most needed; and if she will make a statement.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4488", "label" : {"_value" : "Biography information for Martyn Day"}
}
, "tablingMemberConstituency" : {"_value" : "Linlithgow and East Falkirk"}
, "tablingMemberPrinted" : [{"_value" : "Martyn Day"}
], "uin" : "1198"}
, {"_about" : "http://data.parliament.uk/resources/348630", "AnsweringBody" : [{"_value" : "Home Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/348630/answer", "answerText" : {"_value" : " As part of the policy development process Home Office officials are expected to consider the published Family Test guidance when assessing the impacts of the Department\u2019s policies. The Family Test is actively being considered for a number of Home Office policies currently in development. The guidance can be found here -<\/p>