In December 2014, the Financial Conduct Authority (FCA) published its thematic review on non-advised annuities sales. This found evidence that firms\u2019 sales practices were contributing to consumers potentially buying the wrong annuity for their circumstances, particularly in not buying an enhanced (higher return) annuity when they may be eligible for one, for example if they have a medical condition.<\/p>
<\/p>
<\/p>
<\/p>
The FCA is asking firms that participated in the review to conduct further work to determine whether its findings in relation to enhanced annuities are indicative of a widespread problem. The FCA will then review this additional evidence, and will consider what action to take.<\/p>
<\/p>
<\/p>
<\/p>
The government\u2019s new free and impartial pensions guidance service \u2013 Pension Wise \u2013 will encourage consumers seeking to take advantage of the new pensions freedoms to properly consider their health as part of their retirement income decision. The new pension flexibilities come into force on 6 April 2015, and the FCA has announced that, from that date, firms will have to provide retirement risk warnings to consumers at the point when they have decided they wish to take a specific action and access their defined contribution pension savings. For example, where a consumer says they would like to purchase an annuity and the provider identifies that the consumer has poor health, the provider should inform the consumer that they could be eligible for a better value annuity.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4262", "label" : {"_value" : "Biography information for Lord Deighton"} } , "answeringMemberPrinted" : {"_value" : "Lord Deighton"} , "dateOfAnswer" : {"_value" : "2015-03-26", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-03-26T13:55:04.04Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Pensions"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty\u2019s Government whether they have received indications of concern from the Financial Conduct Authority about the mis-selling of annuities as a result of failure to take into account health issues; and whether they have taken into account the same risk to those converting pension balances to a lump sum.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3869", "label" : {"_value" : "Biography information for Lord Myners"} } , "tablingMemberPrinted" : [{"_value" : "Lord Myners"} ], "uin" : "HL5734"} , {"_about" : "http://data.parliament.uk/resources/227414", "AnsweringBody" : [{"_value" : "Department for Culture Media and Sport"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/227414/answer", "answerText" : {"_value" : "
Year<\/strong><\/p><\/td> Primary<\/strong><\/p><\/td> Secondary<\/strong><\/p><\/td><\/tr> 2010<\/p><\/td> 5<\/p><\/td> 3<\/p><\/td><\/tr> 2011<\/p><\/td> 23<\/p><\/td> 8<\/p><\/td><\/tr> 2012<\/p><\/td> 31<\/p><\/td> 37<\/p><\/td><\/tr> 2013<\/p><\/td> 46<\/p><\/td> 62<\/p><\/td><\/tr> 2014<\/p><\/td> 47<\/p><\/td> 63<\/p><\/td><\/tr> Total<\/strong><\/p><\/td> 152<\/strong><\/p><\/td> 173<\/strong><\/p><\/td><\/tr><\/tbody><\/table> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4270", "label" : {"_value" : "Biography information for Lord Nash"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Nash"}
, "dateOfAnswer" : {"_value" : "2015-03-24", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-03-24T14:03:21.033Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "60"}
, "answeringDeptShortName" : {"_value" : "Education"}
, "answeringDeptSortName" : {"_value" : "Education"}
, "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Schools"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty\u2019s Government how many new (1) state primary, and (2) state secondary, schools were established in England during each of the years from 1997 to 2014 inclusive, excluding schools converting to academy status.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4347", "label" : {"_value" : "Biography information for Baroness Wolf of Dulwich"}
}
, "tablingMemberPrinted" : [{"_value" : "Baroness Wolf of Dulwich"}
], "uin" : "HL5738"}
, {"_about" : "http://data.parliament.uk/resources/227419", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/227419/answer", "answerText" : {"_value" : " The Pensions Regulator has received feedback from some small and micro businesses about the operation of the internet portal for automatic enrolment contact detail registration, known as the "nominate a contact" webpage. This feedback suggests that some users are not very familiar with their PAYE reference. The letters currently sent to customers from the Regulator protects customer data by masking the first 3 digits of their PAYE reference with asterisks and some customers are trying to enter the asterisks as part of their PAYE reference which is generating an error message.<\/p> <\/p> The Regulator is fully aware of the issue. To address it, they are updating the website to clarify exactly what to enter and including the full PAYE reference on relevant letters in future so employers have all the details they need in front of them when prompted by the letter to visit the automatic enrolment contact nomination webpage.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3893", "label" : {"_value" : "Biography information for Lord Freud"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Freud"}
, "dateOfAnswer" : {"_value" : "2015-03-24", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-03-24T13:47:18.65Z", "_datatype" : "dateTime"}
]}
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, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Workplace Pensions"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty\u2019s Government what representations they or the Pensions Regulator have received about the operation of the Pensions Regulator internet portal for the registration of contacts for the automatic enrolment of employees into workplace pensions, in particular in relation to problems with the login details supplied to employers; and what steps they plan to take to rectify any such problems to enable employers to meet the 1 April deadline for registration.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/2227", "label" : {"_value" : "Biography information for Lord Stevens of Ludgate"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Stevens of Ludgate"}
], "uin" : "HL5740"}
, {"_about" : "http://data.parliament.uk/resources/227420", "AnsweringBody" : [{"_value" : "Foreign and Commonwealth Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/227420/answer", "answerText" : {"_value" : " The UK has consistently promoted a co-ordinated international approach to defeating the Lord\u2019s Resistance Army (LRA) and continues to be active in leading this work in the UN Security Council. The African Union\u2019s Regional Task Force continues to play a key role in tackling the LRA threat on the ground. I refer the noble Lord to my answer of 23 February to the noble Lord Chidgey (HL4967). Officials continue to raise the ongoing detention of protestors with senior members of the Congolese government.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3474", "label" : {"_value" : "Biography information for Baroness Anelay of St Johns"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Anelay of St Johns"}
, "dateOfAnswer" : {"_value" : "2015-03-24", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2015-03-24T13:52:25.43Z", "_datatype" : "dateTime"}
]}
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, "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"}
, "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"}
, "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Democratic Republic of Congo"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty\u2019s Government what representations they have made to the government of the Democratic Republic of the Congo about the reported imprisonment of members of the Congolese opposition (including parliamentarians), disappearance of human rights activists, harassment of United Nations officials, and killing of journalists there; and what response they have received.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/738", "label" : {"_value" : "Biography information for Lord Alton of Liverpool"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Alton of Liverpool"}
], "uin" : "HL5742"}
, {"_about" : "http://data.parliament.uk/resources/227422", "AnsweringBody" : [{"_value" : "Foreign and Commonwealth Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/227422/answer", "answerText" : {"_value" : "I refer the noble Lord to my answer of 23 February to the noble Lord Chidgey (HL4967). Officials continue to raise the ongoing detention of protestors with senior members of the Congolese government."}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3474", "label" : {"_value" : "Biography information for Baroness Anelay of St Johns"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Anelay of St Johns"}
, "dateOfAnswer" : {"_value" : "2015-03-24", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2015-03-24T13:58:51.527Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"}
, "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"}
, "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Democratic Republic of Congo"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty\u2019s Government what representations they have made to the government of the Democratic Republic of the Congo about the imprisonment of the Congolese opposition leaders Vano Kiboko, Jean-Bertrand Ewanga and Diomi Ndongala; and what response they have received.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/738", "label" : {"_value" : "Biography information for Lord Alton of Liverpool"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Alton of Liverpool"}
], "uin" : "HL5743"}
, {"_about" : "http://data.parliament.uk/resources/227423", "AnsweringBody" : [{"_value" : "Foreign and Commonwealth Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/227423/answer", "answerText" : {"_value" : "I refer the noble Lord to my answer of 6 March to the noble Lord McConnell of Glenscorrodale (HL5054). Our Ambassador in Kinshasa made clear in his official statement of 20 October 2014 the UK Government\u2019s profound concern over the expulsion of Scott Campbell. The UN Security Council has given a mandate to its Mission in the Democratic Republic of Congo (DRC) to monitor, report and follow-up on human rights violations and abuses. The Joint Human Rights Office\u2019s reporting and its recommendations for action by the Government of the DRC and the international community are an important element of the UN\u2019s work in the DRC and we expect it to be treated with respect."}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3474", "label" : {"_value" : "Biography information for Baroness Anelay of St Johns"}
}
, "answeringMemberPrinted" : {"_value" : "Baroness Anelay of St Johns"}
, "dateOfAnswer" : {"_value" : "2015-03-25", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-03-25T14:23:49.01Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Foreign and Commonwealth Office"}
, "answeringDeptSortName" : {"_value" : "Foreign and Commonwealth Office"}
, "date" : {"_value" : "2015-03-16", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Democratic Republic of Congo"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty\u2019s Government what support they have given to Scott Campbell, the Director of the United Nations joint human rights office in the Democratic Republic of the Congo, who was recently expelled from that country for publishing a report documenting police killing of street children known as kuluna.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/738", "label" : {"_value" : "Biography information for Lord Alton of Liverpool"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Alton of Liverpool"}
], "uin" : "HL5744"}
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|