Written Evidence to be reported to the House.
Pensions Bill
10:00 am
James Plaskitt (Parliamentary Under-Secretary, Department for Work and Pensions; Warwick and Leamington, Labour)
I understand why he wants to press me, but he will anticipate what I am going to say. Otto Thoresen is looking at those questions. It is sensible to await his recommendations. The hon. Gentleman has seen interim reports, and clearly the Thoresen review will address such issues. We ought to see what recommendations come out and then work with the delivery authority—the Personal Accounts Delivery Authority—to build the appropriate mechanisms and ensure that they are in place before personal accounts are launched and before auto-enrolment starts. We must ensure that the right bits of information are given, the right advice is available and the right pointers are there for people to find the required advice. We also have to bear in mind, as we have said repeatedly, the burden on employers. We have covered that already.
During the hon. Member for Rochdale’s contribution, he asked me what information is to be provided. To help him, I will explain what constitutes information in that respect and what information we would expect to see included at the point of auto-enrolment. Information included would be, for example: the conditions of eligibility; the relevant joining processes; how contributions, tax relief and benefits are calculated; the arrangements for making additional contributions; survivor benefits under the scheme; transfer rights; periods of notice to terminate membership; what benefits are payable under the scheme; annual illustrations of benefits at retirement; and procedures for disputes. Those are clearly matters of information; they certainly do not stray into the area of advice. Those are simple points of information, which people will need to understand the implications of the schemes that they have been enrolled into.