§ Lynne JonesTo ask the Secretary of State for Work and Pensions if he will make a statement on the manner in which the Government will provide information to individuals about combined state and private pension forecasts. [8410]
§ Mr. McCartneyCombined pension forecasts are issued by private/occupational pension providers using information made available by the Department for Work and Pensions.
1167WIndividuals will be informed about combined pension forecasts by their scheme provider/employer, and can choose whether or not they wish to receive one.
Pilot exercises conducted with the private sector demonstrated that recipients of the new joint statement, which provides people with easy to understand information on both their state and private pensions, found the service helpful in planning their future income needs in retirement.
The focus of the Department's recruitment activity is on pension scheme providers and employers with occupational pension schemes who will offer the new combined pension forecast service to their members. We will continue to provide general information to individuals about the various pension options available and the importance of reviewing their needs regularly through our pensions education campaign.
The Department for Work and Pensions commenced the recruitment of pensions scheme providers at the annual Pensions Show on 17 October 2001 and intend to exhibit at appropriate industry events in the future.