Work and Pensions Committee - Sixth Report
Improving governance and best practice in workplace pensions

Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 17 April 2013.


Terms of Reference


1 Introduction

Background to this inquiry

About this inquiry

Structure of this report

2 Scheme governance

The current system of workplace pensions

Governance in trust-based and contract-based schemes

3 Costs and charges in DC schemes

The impact of costs and charges on pension income

Capping charges in auto-enrolment qualifying schemes

Active member discounts

Consultancy charges

4 Transparency and the effectiveness of self-regulation

Transparency of costs and charges

Self-regulation and transparency of costs and charges

Self-regulation and annuity purchases

5 Communication with scheme members

Communication and education for employees

Provision of information, advice and education

6 The regulation of workplace pensions

The regulatory system for workplace pensions and changes from April 2013

Concerns about the regulatory system

Concerns about the regulation of contract-based schemes

Better joint working between TPR and the FSA

7 Small pots and "pot follows member"

The small pension pots problem

The Government's proposed solution to the small pots problem

The potential for consumer detriment

Automatic transfers and the NEST restrictions

8 Risk-sharing and Defined Ambition pension schemes

Risks associated with pension saving

Defined Ambition

9 Conclusion

List of Conclusions and recommendations

Formal Minutes


List of printed written evidence

List of additional written evidence

List of Reports from the Committee during the current Parliament

Oral and written evidence

14 January 2013

23 January 2013

12 December 2012

28 November 2012

19 November 2012

Written Evidence

Additional Written Evidence

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© Parliamentary copyright 2013
Prepared 25 April 2013