Quality Workplace Pensions

Barry Gardiner Excerpts

Thursday 27th March 2014 Commons Chamber

[Steve Webb]

I agree. I have already met the chair of the new audit committee, and one of my senior officials serves on it. This work is now under way. Providers are being asked for data. That represents a significant cost to them, but we need those data. The deadline for that work is the end of this year. I have talked about some measures being taken years down the track, but this work will be completed this year. We will not just sit and wait until a letter arrives on my desk on Christmas day, or whatever. We are keeping close to the review, and as we learn from it and decide what action we can take, we will do so as soon as possible.

[Barry Gardiner (Brent North) (Lab)]

The Minister spoke of the “bold” pension proposals in last week’s Budget. Now that the Chancellor has allowed people to cash in their pension pot instead of purchasing an annuity, can the Minister confirm that, under his Department’s rules on care costs, local authorities will now be able to insist that they do cash them in, thereby pushing them over the threshold where they have to contribute to their own care costs?

[Steve Webb]

The hon. Gentleman raises an important point, which is that these changes have a number of knock-on effects within our Department and the Department of Health. Of course, we will make sure that the spirit of the Chancellor’s announcement is carefully reflected in the way Departments carry on. These flexibilities do not come in for another year, so we still have time to work through detail of the sort that he properly raises.