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Pension Schemes Bill [Lords]

Part of the debate – in the House of Commons at 8:55 pm on 30th January 2017.

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Photo of Frank Field Frank Field Chair, Work and Pensions Committee 8:55 pm, 30th January 2017

I am grateful to the Secretary of State for giving way and for his earlier comments. Although we may have differences on the adequacy of the Department’s responses to some of the Select Committee’s reports, its response to our report on this issue is immensely encouraging. I think that some Members of the Committee will want to endorse the Secretary of State’s proposals, which implement some of our recommendations to defend the hard-earned savings that many people are making, sometimes for the first time, by auto-enrolment. We do not want the cowboys to get hold of those funds.

Annotations

George Morley
Posted on 31 Jan 2017 4:20 pm (Report this annotation)

Mr Field, I have the greatest respect for you and your work in the area of pensions but to say " We do not want the cowboys to get hold of those funds." when they are busy doing it now is a very bold statement to make and regrettably untrue.
This is ignoring the frozen pension policy that literally steals a pensioners indexation without any justification as it is discriminatory and random theft of a pensioners annual increase 'entitlement' which is based on their individual contributions to the National Insurance Fund and their place of retirement has nothing to do with the pension that is theirs not the Government's property - but then you know that.
When will true and honest governance be introduced into the DWP and Treasury ?

Eddie Ward
Posted on 3 Feb 2017 3:24 pm (Report this annotation)

The state pension is a fraud. It favours the lazy and punishes the hardworking and thrifty.