New Clause 1 - Pensions Guidance

Part of Pension Schemes Bill [Lords] – in the House of Commons at 5:26 pm on 16 November 2020.

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Photo of Stephen Timms Stephen Timms Chair, Work and Pensions Committee, Chair, Work and Pensions Committee 5:26, 16 November 2020

My hon. Friend is absolutely right, and that is precisely what new clause 1 is intended to deliver.

Monthly data used to be published on the usage of Pension Wise. The Government committed to monthly publication in December 2015 in their response to the Work and Pensions Committee’s report “Pension freedom guidance and advice”, but monthly publication stopped in January 2019. Now the data is only published annually. I tabled a question about that, asking for monthly publication to be resumed. The Minister answered no, and said:

“The annual reporting allows for wider analysis and commentary against the figures rather than that previously published month by month.”

However, nothing is lost by publishing every month.