Protecting pension savers – five years on from the Pension Freedoms: Accessing pension savings

Work and Pensions Committee Closed Inquiry
Opened: 23 Feb 2021 Closed: 21 Oct 2022 Parliament page
This inquiry is looking at how savers are prepared and protected to move from saving for retirement to using their pension savings. This is the second of our three-part inquiry, looking at decisions make about accessing their pensions. We concluded taking evidence on our first part, pension scams, in January … Read more
24 Recommendations
9 Conclusions
1 Report
5 Oral sessions
3 Letters
5 Events
Activity timeline 10 events
6 Jul
2022
Correspondence
27 Apr
2022
Report published
18 Jan
2022
Report published
2 Dec
2021
Correspondence
24 Nov
2021
Correspondence
8 Nov
2021
Oral evidence
25 Oct
2021
Oral evidence
22 Sep
2021
Oral evidence
21 Jul
2021
Oral evidence
16 Jun
2021
Oral evidence
Oral evidence sessions 5 sessions
8 Nov 2021
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Work and Pensions Committee
Anna Harvey · HM Treasury Guy Opperman · Department for Work and Pensions John Glen · HM Treasury Pete Searle · Department for Work and Pensions
25 Oct 2021
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Work and Pensions Committee
Angela Gough · Royal Mail David Pitt-Watson · Cambridge University Simon Eagle · Institute and Faculty of Actuaries The Baroness Altmann CBE
22 Sep 2021
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Work and Pensions Committee
Alex Connolly · Money and Pensions Service Carolyn Jones · Money and Pensions Service Chris Curry · Money and Pensions Service David Fairs · The Pensions Regulator Sarah Pritchard · The Financial Conduct Authority
21 Jul 2021
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Protecting pension savers –five years on from the Pension Freedoms: Accessing pension savings
Colin Clarke · Legal and General Laura Myers · Lane, Clark & Peacock Matthew Arends · Aon Peter Glancy · Scottish Widows Philip Brown · B&CE, the People’s Pension Rachel Vahey · AJ Bell Stephen Lowe · Just Group
16 Jun 2021
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Work and Pensions Committee
Chris Brooks · Age UK Dr Julia Mundy · Financial Services Consumer Panel Joe Dabrowski · Pension and Lifetime Savings Association Laurie Edmans · Financial Inclusion Commission Paul McBride · The Society of Pension Professionals Renny Biggins · The Investing and Saving Alliance Tess Page · Association of Consulting Actuaries Yvonne Braun · ABI
Title HC No. Published Items Response
Fifth report - Protecting pension savers—five years on from the … HC 237 18 Jan 2022 33 Responded
Recommendations & Conclusions
1 result
Clear
23 Recommendation Accepted in Part
Fifth report - Protecting pension …
Pension savers will often look first to their scheme or employer for support when making...
Pension savers will often look first to their scheme or employer for support when making decisions about their pension savings. Schemes and employers should play an active role in providing guidance and signposting advice to their members and employees. Many … Read more
Government Response
The government is working with the Money and Pensions Service to test and develop a financial Mid-life MOT, building on previous tests and examples, and will trial Midlife MOT activity in Jobcentres and the private sector to help older workers plan their career and remain in work.
Department for Work and Pensions
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Government Response AI assessment · 33 of 24 classified
Accepted 6
Accepted in Part 1
Acknowledged 13
Deferred 7
Not Addressed 3
Rejected 3
Total 24 recs + 9 conclusions
Correspondence 3 letters
6 Jul 2022 Correspondence from Money and Pension Service about the Committee’s Report on accessing pension savings
Parliament page
2 Dec 2021 To committee Letter from the Chair to the Minister for Pensions and the Economic Secretary to the Treasury, following the evidence session on 8 November
Parliament page
24 Nov 2021 Correspondence with FCA and TPR following up on the 22 September evidence session – Accessing pension savings
Parliament page