Clause 44 - Commencement

Part of Pension Schemes Bill – in a Public Bill Committee at 11:15 am on 4th November 2014.

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Photo of Steve Webb Steve Webb The Minister of State, Department for Work and Pensions 11:15 am, 4th November 2014

Well, it varies.

Provisions are in place, but the FCA is doing ongoing work. It is not saying, “We will get round to it some time—in three or four years”. That work is happening now, and it will be concluded before the new freedoms come into force in April. If further changes need to be made in the light of the review of annuity sales and the retirement income market study, they will be made.