§ 30. Mr. Jim CunninghamTo ask the Secretary of State for Social Security if she will make a statement on progress with the pensions review. [34073]
§ Mr. DenhamThe pensions review that my right hon. Friend the Secretary of State announced last year fulfils our manifesto commitment to look at the central areas of insecurity for elderly people.
We are carefully considering the more than 2,000 responses that we received to the first part of the review. We are also considering the more than 200 responses to the technical consultation document on our proposals for stakeholder pensions that we issued in November. We aim to publish an initial framework for change in the first half of this year. There will then be a period of further consultation before final proposals are developed.
§ 31. Mr. CaplinTo ask the Secretary of State for Social Security what steps she has taken to encourage the taking out of value-for-money pensions. [34074]
§ Mr. DenhamA key objective of the Pensions Review is to ensure that resources devoted to pensions are used to maximum effect. We are therefore looking at how to encourage more of those who have access to good quality occupational pension schemes to join them. We have set up the Pensions Education Working Group which will recommend ways to improve awareness of the need to make provision for retirement.
We are also developing a framework for Stakeholder Pension schemes which will offer secure, flexible and value for money second pensions for people who do not have the opportunity to join an occupational scheme and for whom many personal pensions can be unsuitable.
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