Early day motion 2597

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HIDDEN COSTS IN PENSION AND SAVING FUNDS

That this House notes with concern the presentation to HM Treasury by Dr Christopher Sier, a former consultant to investment managers, and David Norman, formerly Chief Executive of Credit Suisse Asset Management (UK) that high pension and saving fund hidden costs are not fully understood by consumers, could damage the fragile savings culture in the UK, are estimated to cost 67.2 billion a year with the greatest cost being wages and bonuses for traders and fund managers, and are rising; further notes that even the costs which are made public reveal that UK funds are in many cases more expensive to invest in than funds in France, Germany and the US; believes that without reform pension funds management business opportunities for the UK financial services industry could be lost; and calls on the Government to take urgent action to drive pension charges down and help the next generation of pensioners and the communities they live in to have a safer, more secure future.

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Total number of signatures: 50

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Showing 50 out of 50

Name Party Constituency Date Signed
Alexander, Heidi Labour Party Lewisham East 12.01.2012
Ali, Rushanara Labour Party Bethnal Green and Bow 12.01.2012
Banks, Gordon Labour Party Ochil and South Perthshire 12.01.2012
Bayley, Hugh Labour Party York Central 12.01.2012
Benton, Joe Labour Party Bootle 12.01.2012
Blackman-Woods, Roberta Labour Party City of Durham 12.01.2012
Bottomley, Peter Conservative Party Worthing West 16.01.2012
Buck, Karen Labour Party Westminster North 12.01.2012
Campbell, Gregory Democratic Unionist Party Londonderry East 18.01.2012
Caton, Martin Labour Party Gower 17.01.2012
Connarty, Michael Labour Party Linlithgow and East Falkirk 12.01.2012
Corbyn, Jeremy Labour Party Islington North 12.01.2012
Crausby, David Labour Party Bolton North East 30.01.2012
Cryer, John Labour Party Leyton and Wanstead 12.01.2012
Cunningham, Tony Labour Party Workington 12.01.2012
Davies, Geraint Labour Party Swansea West 12.01.2012
Dobbin, Jim Labour Party Heywood and Middleton 12.01.2012
Durkan, Mark Social Democratic and Labour Party Foyle 16.01.2012
Efford, Clive Labour Party Eltham 12.01.2012
Evans, Chris Labour Party Islwyn 12.01.2012
Flynn, Paul Labour Party Newport West 19.01.2012
Francis, Hywel Labour Party Aberavon 18.01.2012
Gapes, Mike Labour Party Ilford South 12.01.2012
Goggins, Paul Labour Party Wythenshawe and Sale East 12.01.2012
Goodman, Helen Labour Party Bishop Auckland 12.01.2012
Green, Kate Labour Party Stretford and Urmston 12.01.2012
Hancock, Mike Liberal Democrats Portsmouth South 17.01.2012
Harris, Tom Labour Party Glasgow South 12.01.2012
Hendrick, Mark Labour Party Preston 12.01.2012
Hopkins, Kelvin Labour Party Luton North 12.01.2012
Hunt, Tristram Labour Party Stoke-on-Trent Central 12.01.2012
Lloyd, Tony Labour Party Manchester Central 23.01.2012
Mann, John Labour Party Bassetlaw 12.01.2012
Meale, Alan Labour Party Mansfield 16.01.2012
Michael, Alun Labour Party Cardiff South and Penarth 12.01.2012
Morrice, Graeme Labour Party Livingston 18.01.2012
Osborne, Sandra Labour Party Ayr Carrick and Cumnock 17.01.2012
Owen, Albert Labour Party Ynys Môn 18.01.2012
Pugh, John Liberal Democrats Southport 19.01.2012
Qureshi, Yasmin Labour Party Bolton South East 12.01.2012
Riordan, Linda Labour Party Halifax 18.01.2012
Roy, Lindsay Labour Party Glenrothes 12.01.2012
Sanders, Adrian Liberal Democrats Torbay 17.01.2012
Sharma, Virendra Labour Party Ealing Southall 16.01.2012
Sheridan, Jim Labour Party Paisley and Renfrewshire North 12.01.2012
Skinner, Dennis Labour Party Bolsover 12.01.2012
Sutcliffe, Gerry Labour Party Bradford South 12.01.2012
Thomas, Gareth (Harrow West) Labour Party Harrow West 12.01.2012
Wicks, Malcolm Labour Party Croydon North 12.01.2012
Wilson, Phil Labour Party Sedgefield 12.01.2012