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Work and Pensions Committee
Report and Government Response published.
The Work and Pensions Committee says in their report that the "freedom to choose" reforms to pensions introduced in April 2015 are insufficient: people must have the freedom to make a well-informed choice. Not to have the basis for a well-informed choice could lead to the next major pensions mis-selling scandal. The Committee therefore calls on the Government to act swiftly in response to its report.
Evidence given by David Geale, Director of Policy, and Chris Woolard, Director of Policy, Risk and Research, Financial Conduct Authority; Harriett Baldwin MP, Economic Secretary to the Treasury, and Gwyneth Nurse, Director Financial Services, HM Treasury (at 10.15am).
Evidence given by Michelle Cracknell, Chief Executive, The Pensions Advisory Service, Rachael Badger, Head of Policy Research, Citizens Advice, Teresa Fritz, Financial Services Consumer Panel, and Chris Curry, Director, Pensions Policy Institute; Huw Evans, Director General, Association of British Insurers, Joanne Segars, Chief Executive, National Association of Pension Funds, Tom McPhail, Head of Pensions Research, Hargreaves Lansdown, and Chris Hannant, Director General, Association of Professional Advisers (at 4.40pm).
Work and Pensions Committee Chair welcomes Treasury's first Pension Wise datasets publication