I welcome the Bill, particularly the part that my right hon. Friend is referring to at present. Sometimes, when people have multiple pensions with various pension schemes, they wish to put them into one pot, or two or three pots, rather than having to deal with so many. When that happens, some pension schemes seek to charge administrative costs when passing the funds on. Is there any mechanism to ensure that those administrative costs can be kept to a reasonable level, rather than being extortionate, which would ultimately impact on the pension pot for the individual?
Pension Schemes Bill [Lords]
Proceeding contribution from
Shailesh Vara
(Conservative)
in the House of Commons on Wednesday, 7 October 2020.
It occurred during Debate on bills on Pension Schemes Bill [Lords].
About this proceeding contribution
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681 c1954 Session
2019-21Chamber / Committee
House of Commons chamberSubjects
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2020-10-08 12:59:20 +0100
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