Ruth George
Main Page: Ruth George (Labour - High Peak)Department Debates - View all Ruth George's debates with the HM Treasury
Finance Bill (First sitting)
Ruth George ExcerptsTuesday 17th October 2017
(6 years, 6 months ago)
Public Bill CommitteesRead Full debate Finance (No.2) Act 2017 View all Finance (No.2) Act 2017 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Public Bill Committee Amendments as at 17 October 2017 - (17 Oct 2017)
Ruth George (High Peak) (Lab)
The hon. Lady makes some valid points, as did my hon. Friend the Member for Bootle. My question is: given that Which? uncovered back in 2015, the fact that the average cost of independent retirement advice on a £100,000 pension pot was £1,863, does she feel that £500 is an appropriate limit for tax relief?
Kirsty Blackman
I thank the hon. Lady for her intervention, which highlights the issue. It would be useful to hear from the Minister about why £500 has been chosen, given that a £100,000 pension pot is not the biggest of pension pots and some people will have more in their pension pot than that. We need to hear from the Minister the reasons behind choosing that figure. It would also be useful to hear about how this might affect those women caught up in and disadvantaged by the Government’s changes to the state pension age, particularly those who have not been told about these changes.