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Proceeding contribution from Bishop of Durham (Bishops (affiliation)) in the House of Lords on Tuesday, 17 June 2008. It occurred during Committee of the Whole House (HL) and Debate on bill on Pensions Bill.


Pensions Bill

I support what has been said, but I was surprised to see in the amendment the words, "““at least one hour of generic financial advice””." I know from my diocese people such as those whom we are talking about. They are unlikely to be able instantly to latch on to the technical stuff that will be talked about. Specifying an hour seems extremely arbitrary, so I wonder whether instead there might be some way of listing the specific topics to be covered, recognising that some people may take a little longer to catch up with some of them and that by the time that even those who are moderately financially literate get to the age of 50 the pensions legislation may have advanced so far that it may be quite difficult to understand. I do not know how many topics would be covered under ““generic financial advice””, but I wonder whether they could be listed, as opposed to the arbitrary period of a single hour being specified.


Secondary information

Type
Proceeding contribution
Reference
702 c948-9 
Session
2007-08
Chamber / Committee
House of Lords chamber
Subjects
Conditions of employment Directors Age Contributions Advisory services Women Liability Income tax Information Employment agencies Pensioners Personal savings Pay Workplace pensions Pensions National insurance contributions Pension funds Low pay Temporary employment State retirement pensions Young people Small businesses Tax allowances Repayments Taxation Tax rates and bands National employment savings trust scheme
Legislation
Pensions Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk