Source · Select Committees · Work and Pensions Committee
Recommendation 24
24
Most guidance is currently delivered by individuals, which is costly, or through written communication, which...
Conclusion
Most guidance is currently delivered by individuals, which is costly, or through written communication, which is unengaging. In future we envisage a significant proportion of guidance or triage services will be delivered through digital tools. This should be a key consideration in the implementation of the recommendations we have made to regulators and the Money and Pensions Service. (Paragraph 103) Pensions dashboard
Government Response
Acknowledged
HM Government
Acknowledged
The government acknowledges the benefits of timely and thorough consultation, and in achieving cross-party consensus where possible about the matters being legislated upon. As announced in 2014, the NMPA will rise to 57 in April 2028 but those who have unqualified rights to access their pension below that age will have those rights protected. This proposal was set out in a 10-week consultation in early 2021 followed by a consultation on draft legislation in summer 2021. It represents a careful balance between the importance of making decisions around pensions as simple and comprehensible as possible and the importance of protecting individuals’ existing rights. 18 Government and Financial Conduct Authority Responses to the Committee’s Fifth Report