Personal Accounts White Paper

Answer: My hon. Friend is right. Clearly, the lower the annual management charges and costs, the greater the return for those who are saving in the national pension saving scheme. That must be our principal objective in taking forward Lord Turner’s proposals. This, however, will be a matter for detailed consideration by the proposed personal accounts delivery authority, but I can assure my hon. Friend and the House that we will work closely with the delivery authority to make sure that this important aspect of the scheme is brought to fruition.

This is an answer to the Oral question asked on Monday, 12 March 2007 by Adrian Bailey (Labour).

Question: Does my right hon. Friend agree that minimising costs and charges is crucial to the success of personal accounts? What steps is the Department taking to achieve that?

Secondary information

Type: Oral answer to question
Reference: 458 c9
Session: 2006-07
Chamber / Committee: House of Commons chamber
Subjects: Personal savings Pensions State retirement pensions National employment savings trust scheme
Link: View this Oral answer to question on www.publications.parliament.uk