Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what steps she is taking to increase transparency in the private pension sector.

The Government is developing pensions dashboards which will allow people to view their pensions picture, including State Pension, securely and in one place online.

Relevant occupational, personal and stakeholder pension schemes are legally required to connect to pensions dashboards and provide pensions information upon request. This will help people to reconnect with their pension pots and better plan for retirement.

The Value for Money measures in the Pension Schemes Bill will also drive transparency across the Defined Contributions pensions sector by requiring schemes to provide standardised metrics across three core pillars of value: costs and charges; investments; and quality of service. DWP are working closely with the Financial Conduct Authority and The Pensions Regulator to ensure we design a framework and regulatory regime that increases comparability, transparency and competition across DC pension schemes, delivering better outcomes for pension savers.