Source · Select Committees · Work and Pensions Committee
Third Report - Protecting pension savers – five years on from the pension freedoms: Saving for later life
Work and Pensions Committee
HC 126
Published 30 September 2022
Recommendations
8
Accepted
People in generation X and older without access Defined Benefit pension saving will have had...
Recommendation
People in generation X and older without access Defined Benefit pension saving will have had limited time to build up pension savings through auto-enrolment and are therefore at risk of not hitting their retirement adequacy targets. We recommend the Government …
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Government Response Summary
The government does not believe now is the right time to consult and has taken steps to address this challenge, including introducing the new state pension, providing further information and guidance to savers, and considering how to consolidate small pots.
Department for Work and Pensions
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11
Accepted
We support TPR’s efforts to encourage gig economy employers to offer pensions to those workers...
Recommendation
We support TPR’s efforts to encourage gig economy employers to offer pensions to those workers who do not come under the definition in the Pensions Act 2008. We recommend that DWP explore what steps could be taken to support this, …
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Government Response Summary
The government believes the definition of jobholder in the AE legislation is clear and does not need to be altered, with gig economy workers who meet the definition already being brought within the scope of AE through the Pensions Regulator's compliance work and clarified guidance on employment status.
Department for Work and Pensions
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20
Accepted
Para 128
It is clearly important that pension schemes can provide pension scheme members who have been...
Recommendation
It is clearly important that pension schemes can provide pension scheme members who have been auto-enrolled with information and tools to help them engage with their pensions. We recommend that TPR report back to us by March 2023 on the …
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Government Response Summary
The government will report back to the Committee by March 2023 on the progress made in resolving concerns about Privacy and Electronic Communications Regulations preventing pension schemes from communicating with members, including engagement with the ICO and DCMS.
Department for Work and Pensions
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