Safe Hands Plans: Insolvency

Treasury written question – answered on 25th April 2023.

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Photo of Hilary Benn Hilary Benn Labour, Leeds Central

To ask the Chancellor of the Exchequer, whether his Department was aware of concerns about the solvency of Safe Hands funeral plan prior to that company going into administration.

Photo of Andrew Griffith Andrew Griffith The Economic Secretary to the Treasury

During a wide-ranging meeting with industry in July 2017 to discuss pre-paid funeral plans, some concerns about Safe Hands Plans were raised with HM Treasury.

In response, officials advised that such concerns should be reported to the Financial Conduct Authority, reflecting the fact that HM Treasury has no investigatory or enforcement powers of its own.

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