§ Mr. LevittTo ask the Secretary of State for Social Security what progress has been made on the consultation on the stakeholder pensions proposals. [89295]
§ Mr. TimmsThe consultation paper "Stakeholder Pensions: Employer Access—the Government's Proposals" is published today. This is the second in a series of consultation papers on stakeholder pensions; further consultation papers will be issued in the coming weeks.
This paper demonstrates our commitment to move ahead with pensions reform. Stakeholder pensions will plug a gap in pension provision by providing low-cost, dependable and flexible pensions for up to five million people who currently do not have the right options available to save for their retirement.
This consultation paper sets out how employers will play a part in this process, by providing employees with access to a stakeholder pension scheme if they do not offer an occupational pension scheme. Copies of the consultation paper are available in the Library and the Vote Office.