Pensions — Question

Part of the debate – in the House of Lords at 11:30 am on 12 December 2013.

Alert me about debates like this

Photo of Lord Newby Lord Newby Lords Spokesperson (HM Treasury) (Whip), Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 11:30, 12 December 2013

My Lords, when people have saved up for retirement, the Government agree that they should get the best from their retirement savings. That is why we are already taking action to combat excessive pension charges. It is also why we set up the Open Market Option Review Group, which introduced measures to prompt consumers to shop around for an annuity and secure a better retirement income. The Financial Conduct Authority is also looking, through its thematic reviews, into the important issues that this report raised. The report is a useful contribution to ongoing work in this area.