Parliamentary Briefing: Committee Stage of the Pensions Bills, the House of Lords

Two amendments have so far been tabled in relation to this issue:

• Amendment 111, tabled by Lord Oakeshott of Seagrove Bay and Lord Addington, would require the Personal Accounts Delivery Authority to publish a report before the end of 2007 setting out how generic financial advice will be delivered to people liable to be enrolled into personal accounts
• Amendment 115, tabled by Baroness Hollis of Heigham and Lord Oakeshott of Seagrove Bay, would require the Delivery Authority to publish a report on the advice needs of women and men within a year of being established

The Foundation hopes that the debate on these two amendments will provide an opportunity for the Minister to set out the Government’s thinking on this issue. In particular, we hope that he can provide assurances that developing an effective advice regime to support personal accounts will be a priority for the Personal Accounts Delivery Authority, once established, and that definitive proposals will be brought forward in time for the next phase of the pension reform process and the report of the Thoresen Review.