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Select Committee · Work and Pensions Committee

Pension freedom and choice inquiry

Status: Closed Opened: 13 Sep 2017 Closed: 5 Nov 2019 3 reports
Inquiry scopePension freedoms: Government response to Committee’s Ninth Report Pension freedoms: Government response to Committee’s Ninth Report (PDF 168 KB) Protecting pensions against scams: priorities for the Financial Guidance and Claims Bill Protecting pensions against scams: priorities for the Financial Guidance and Claims Bill (PDF 538KB) British Steel Pension Scheme British Steel Pension Scheme (PDF 497KB) Pension freedoms Pension freedoms PDF (369 KB) The deadline for written submissions was Monday 23 October 2017 , which included recommendations for improvements in each case: What are people doing with their pension pots (including defined benefit pension entitlements) and are those decisions consistent with their objectives? Is there adequate monitoring of the decisions being made? Are people taking proportionate advice and guidance and if not, why not? Are people adjusting behaviour in response to advice and guidance? To what extent will pensions dashboards enable consumers to make more informed decisions about their retirement savings? What are the remaining obstacles to their creation and success and how should those obstacles be overcome? Is Pension Wise working? If not, how should it be reformed? Are there any implications for the proposed creation of a new single public financial guidance body? Are there persistent gaps in the advice and guidance market and what might fill them? Is automated advice and guidance filling gaps as expected? Is there evidence of product market competition resulting in cheaper, clearer or a wider products for consumers? Are people switching from their pension provider in accessing their pots? Is an adequate annuity market being sustained? Are the Government and Financial Conduct Authority taking adequate steps to prevent scamming and mis-selling? Are the freedom and choice reforms part of a coherent retirement saving strategy? To what extent is it complimentary to or undermined by other policies?

Reports

3 reports

Oral evidence sessions

3 sessions

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Date Session and witnesses Source
13 Dec 2017 No witnesses recorded View ↗
15 Nov 2017 No witnesses recorded View ↗
1 Nov 2017 No witnesses recorded View ↗

Correspondence

59 letters

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PublishedDirectionLetter
4 Nov 2019 To committee Letter from Andrew Bailey Chief Exec FCA re British Steel Pension Scheme - Financial Services Compensation Scheme, 18 January 2019
4 Nov 2019 To committee Letter from Lesley Titcomb Chief Executive The Pensions Regulator re review into BSPS member communications, 22 January 2019
2 May 2019 To committee Letter from John Glen MP, Economic Secretary to the Treasury, and Guy Opperman MP, Minister for Pensions and Financial Inclusion, to Chair, regarding follow-up of evidence session 3 April 2019
25 Apr 2019 — Correspondence with pensions industry stakeholders on readiness for pensions dashboard
4 Apr 2019 — Correspondence with pensions industry stakeholders on readiness for pensions dashboard
15 Feb 2019 To committee Letter from John Govett, CEO, Single Financial Guidance Body (SFGB) , re priorities of the SFGB - dated 30 January 2019
8 Aug 2018 From committee Letter to Chief Executive, Financial Reporting Council, regarding Taveta vs FRC court judgement, 3 August 2018
23 Jul 2018 To committee Letter from Andrew Croft CEO St James's Place to Chair relating to defined benefit pension transfers, 16 July 2018
23 Jul 2018 To committee Letter from James Baxter, Managing Partner, Tideway, to Chair relating to defined benefit pension transfers, 2 July 2018
23 Jul 2018 To committee Letter from Chair to James Baxter, Managing Partner, Tideway relating to defined benefit pension transfers, 29 June 2018
23 Jul 2018 To committee Letter from Chair to Andrew Croft, St James’s Place relating to defined benefit pension transfers, 29 June 2018
4 Jul 2018 To committee Letter from Megan Butler Financial Conduct Authority (FCA) to Chair relating to Self-invested personal pensions (SIPPs), 8 June 2018
20 Jun 2018 To committee Letter from Chair to Frances O'Grady TUC General Secretary relating to Defined Benefit pension transfers, 30 May 2018
20 Jun 2018 To committee Letter from Tim Sharp, Policy Officer, Trades Union Congress (TUC) to Chair relating to defined benefit pension transfer advice, 18 June 2018
14 Jun 2018 To committee Letter from John Glen, Economic Secretary to the Treasury, to Chair on Financial Guidance and Claims Act pension cold call ban and introducers, 24 May 2018
27 May 2018 To committee Letter from Chair to Megan Butler FCA on Self-invested personal pensions (SIPP), 22 May 2018
11 May 2018 To committee Letter from the Financial Conduct Authority to the Chair in response to the Committee'e reports on Pensions Freedoms and British Steel Pensions Schemes, 4 May 2018
10 May 2018 To committee Letter from Chair to Economic Secretary to the Treasury, relating to pension cold calls and introducers, dated 9 May 2018
10 May 2018 To committee Letter from Economic Secretary to the Treasury, regarding banning pension cold calls, dated 23 March 2018
20 Apr 2018 To committee Letter from Christopher Woolard FCA Exec Director Strategy and Competition to Chair in relation to DB transfer advice, 5 April 2018
20 Apr 2018 To committee Letter from Andrew Bailey Chief Exec FCA to the Chair relating to Asset Management Market study, 4 April 2018
15 Mar 2018 To committee Letter from the Chair to Financial Conduct Authority regarding British Steel Pension Scheme, 26 February 2018
15 Mar 2018 To committee Letter from FSCS to the Chair regarding Active Wealth, 16 February 2018
15 Mar 2018 To committee Letter from Financial Conduct Authority to the Chair regarding British Steel Pension Scheme, 28 February 2018
15 Mar 2018 To committee Letter from Financial Conduct Authority to the Chair regarding British Steel Pension Scheme, 12 March 2018
15 Mar 2018 To committee Letter from Financial Conduct Authority to the Chair regarding Active Wealth, 20 February 2018
13 Mar 2018 To committee Letter from the Financial Conduct Authority to the Chair regarding automated advice, 12 January 2018
27 Feb 2018 To committee Letter from Guy Opperman MP to Frank Field MP regarding publication of special report, 15 February 2018
27 Feb 2018 To committee Letter from Frank Field MP to Guy Opperman MP regarding publication of special report, 14 February 2018
8 Feb 2018 To committee Letter from Economic Secretary and Minister for Pensions to Chair on Financial Guidance and Claims Bill 31 January 2018
8 Feb 2018 To committee Letter from Darren Reynolds Active Wealth (UK) to Chair, 2 February 2018
8 Feb 2018 To committee Letter from Chair to Economic Secretary and Minister for Pensions on Financial Guidance and Claims Bill, 2 February 2018
8 Feb 2018 To committee Letter from Chair to Darren Reynolds, Active Wealth UK, 29 January 2018
8 Feb 2018 To committee Letter from AJ Bell to Chair re Financial Guidance and Claims Bill, 31 January 2018
12 Jan 2018 To committee Letter from Active Wealth UK Limited on pension transfer advice, 10 January 2018
12 Jan 2018 To committee Letter from Celtic Wealth Management on pension transfer advice, 10 January 2018
12 Jan 2018 To committee Letter from the FCA on British Steel Pension Scheme voluntary requirements, 8 January 2018
12 Jan 2018 To committee Letter from the FCA on defined benefit pension transfer advice, 21 December 2017
21 Dec 2017 To committee Letter from Lord Sharkey to the Chair relating to pension freedom and choice, 13 December 2017
19 Dec 2017 To committee Letter from the Chair to Clive Howells Celtic Wealth relating to British Steel Pension Scheme advice, 18 December 2017
19 Dec 2017 To committee Letter from Darren Reynolds to the Chair relating to British Steel Pension Scheme, 12 December 2017
19 Dec 2017 To committee Letter from the Chair to Clive Howells, Celtic Wealth, relating to oral evidence on 13 December, 12 December 2017
19 Dec 2017 To committee Letter from the Chair to Darren Reynolds relating to pension transfer advice, 18 December 2017
19 Dec 2017 To committee Letter from the Chair to Darren Reynolds relating to oral evidence on 13 December, 12 December 2017
19 Dec 2017 To committee Letter from Celtic Wealth to the Chair relating to failure to give oral evidence to the Committee, 12 December 201
18 Dec 2017 To committee Letter from British Steel Pension Fund Trustee to Chair, 15 December 2017
18 Dec 2017 To committee Letter from Pension Protection Fund to Chair re BSPS, 15 December 2017
14 Dec 2017 To committee Letter from Financial Conduct Authority to the Chair relating to British Steel Pension scheme, 13 December 2017
14 Dec 2017 To committee Letter from British Steel Pension Fund Trustee to the Chair, 13 December 2017
6 Dec 2017 To committee Letter from Christopher Woolard, FCA, to the Chair relating to defined benefit transfers, 29 November 2017
30 Nov 2017 To committee Letter from the Pensions Minister Guy Opperman MP to the Chair on pension liberation fraud, 23 November 2017
30 Nov 2017 To committee Letter from Nicola Parish, Executive Director of Frontline Regulation, The Pensions Regulator, to the Chair on Project Bloom, 27 November 2017
30 Nov 2017 To committee Letter from David Green, Serious Fraud Office Director, to the Chair on pension fraud, 27 November 2017
30 Nov 2017 To committee Letter from Chair to David Green, Serious Fraud Office Director, on pension fraud, 20 November 2017
16 Nov 2017 To committee Letter from Guy Opperman MP re further evidence to the Pension freedom and choice inquiry 141117
16 Nov 2017 From committee Letter to Guy Opperman MP requesting further written evidence from the Department re Pension freedom and choice 081117
15 Nov 2017 To committee Letter from the Chair to Chief Executive, The Pensions Regulator, relating to Project Bloom, 24 October 2017
15 Nov 2017 To committee Letter from Chief Executive, The Pensions Regulator, to the Chair relating to Project Bloom, 13 November 2017
9 Nov 2017 To committee Letter from Rob Yuille, ABI, re clarification on oral evidence given 01/11/17