Sale of Annuities Debate

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Department: HM Treasury

Sale of Annuities

David Rutley Excerpts
Wednesday 19th October 2016

(8 years, 2 months ago)

Commons Chamber
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Simon Kirby Portrait Simon Kirby
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None of us wants to see people being baffled, and none of us wants to see uncertainty, but at the end of the day we are surely better off making the right decision, which protects vulnerable consumers, rather than carrying on regardless. The hon. Gentleman is right that we all have a responsibility to educate and inform people throughout their lives about the importance of savings and pensions, and that is something the Government fully intend to continue doing.

David Rutley Portrait David Rutley (Macclesfield) (Con)
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I know that this is a difficult decision for my hon. Friend, because he feels passionately about pension freedoms. Can he assure the House, though, that every effort is now being made to ensure that pension providers fully co-operate with all other aspects of the Government’s wider pension freedoms, which have been so warmly welcomed around the country?

Simon Kirby Portrait Simon Kirby
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I can give my hon. Friend the reassurance that I will do all I can to make sure that providers work closely with the Government to get the best possible deal for older people and indeed savers, including younger people—people who are perhaps not in the habit of saving or contributing to pensions. That is an important thing, and I am happy to pursue it with my full vigour.