The Work and Pensions Committee launch a Call for Evidence
06 August 2018
The deadline for written submissions using the online form is the 3 September 2018.
Following on from the conclusion of the pension freedom and choice inquiry this new inquiry will focus on whether the pensions industry provides sufficient transparency around charges, investment strategy and performance to consumers and will also examine whether enough is being done to ensure individuals:
- Get value for money for their pension savings
- Understand what they are being charged and why
- Understand the short- and long-term impact of costs on retirement outcomes
- Can see how their money is being invested and how their investments are performing
- Are engaged enough to use information about costs and investments to make informed choices about their pension savings
- Get good-value, impartial service from financial advisers
The Work and Pensions Committee is now inviting evidence to be submitted from all interested parties that support responses to the following questions:
- Do higher-cost providers deliver higher performance, or simply eat into clients’ savings?
- Is the Government doing enough to ensure that workplace pension savers get value for money?
- What is the relative importance of empowering consumers or regulating providers?
- How can savers be encouraged to engage with their savings?
- How important is investment transparency to savers?
- If customers are unhappy with their providers’ costs and investment performance/strategy, are there barriers to them going elsewhere?
- Are Independent Governance Committees effective in driving value for money?
- Do pension customers get value for money from financial advisers?