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Pension Schemes Bill Committee
The following extracts are from the Pension Schemes Bill Committee on 11 September 2025.
The clause amends the onboarding conditions in these instances, to allow trustees of a scheme in PPF assessment to seek to secure their liabilities with a superfund at less than full benefits, but more...
Pension Schemes Bill Committee
The following extracts are from the Pension Schemes Bill Committee on 11 September 2025.
The clause amends the onboarding conditions in these instances, to allow trustees of a scheme in PPF assessment to seek to secure their liabilities with a superfund at less than full benefits, but more...
Clauses 51 to 57 agreed to. Clause 58, as amended, agreed to. Clauses 59 to 64 agreed to. Clause 65, as amended, agreed to. Clauses 66 to 81 agreed to. Clause 82, as amended, agreed to. Clauses 83 to 97 agreed to. Schedule, as amended, agreed to. New clauses 11 to 17, 20, and 22 to 30 agreed to. New clause 1, discussed with new clauses 40, 41 and 43, under consideration.
Clauses 51 to 57 agreed to. Clause 58, as amended, agreed to. Clauses 59 to 64 agreed to. Clause 65, as amended, agreed to. Clauses 66 to 81 agreed to. Clause 82, as amended, agreed to. Clauses 83 to 97 agreed to. Schedule, as amended, agreed to. New clauses 11...
New clause 1, discussed with new clauses 40, 41 and 43, negatived on division (5 to 8). New clause 2 debated and withdrawn. New clause 5, discussed with new clauses 18 and 19, negatived on division (3 to 8). New clauses 7 to 10 debated and withdrawn. New clause 33, discussed with new clauses 34 and 35, debated and withdrawn. New clauses 37 to 39 and 44 to 47 debated and withdrawn. Clauses 98 and 99 agreed to. Clauses 100 and 101, as amended, agreed to. Clause 102 agreed to. Bill, as amended, to be reported (Bill 304). Written evidence reported to the House.
New clause 1, discussed with new clauses 40, 41 and 43, negatived on division (5 to 8). New clause 2 debated and withdrawn. New clause 5, discussed with new clauses 18 and 19, negatived on division (3 to 8). New clauses 7 to 10 debated and withdrawn. New clause 33,...
To ask the Secretary of State for Work and Pensions, what assessment she has made of the impact of the stronger nudge to pensions guidance on Pension Wise guidance usage by pension savers.
To ask the Secretary of State for Work and Pensions, what assessment she has made of the impact of the stronger nudge to pensions guidance on Pension Wise guidance usage by pension savers.
The Stronger Nudge to pension guidance regulations were introduced in June 2022. In the year following this (June 2022 to May 2023) around 124,000 Pension Wise appointments were attended, and in the subsequent year (June 2023 to May 2024) around 119,000 appointments were attended. These figures represent a 14% and 9% increase, respectively, on the number of appointments prior to the introduction of the regulations.
Overall, Stronger Nudge has accounted for around 16% of attended Pension Wise appointments between June 2022 and October 2024, according to unpublished data from the Money and Pensions Service (MaPS).
Increases in Pension Wise uptake cannot be solely attributed to the Stronger Nudge regulations. The Department for Work and Pensions works closely with MaPS to understand what pensions guidance people are using and to help people get the right guidance at the right time, with further support available through multiple channels.
Depending on individual circumstances, these channels may direct people, through triaging, to Pension Wise (delivered by MaPS) or may help them decide Pension Wise is not appropriate for them at that time. For example, in the 2023/24 financial year, 258,000 people accessed the more holistic Money Helper pensions guidance (also delivered by MaPS). This is a 13% increase from 2022/23.
To ask the Secretary of State for Work and Pensions, what assessment he has made of the effectiveness of the midlife MOT review announced in the Spring Budget 2023 on improving the uptake of Pension Wise guidance.
To ask the Secretary of State for Work and Pensions, what assessment he has made of the effectiveness of the midlife MOT review announced in the Spring Budget 2023 on improving the uptake of Pension Wise guidance.
The new digital Mid-Life MOT tool is designed to help people understand what their employment choices mean for planning for later life.
We will be working with employers and pension providers to make the most of this new tool for everyone.
To ask the Secretary of State for Work and Pensions, how much his Department has spent on the Pension Wise service in each of the last five financial years.
To ask the Secretary of State for Work and Pensions, how much his Department has spent on the Pension Wise service in each of the last five financial years.
The Pension Wise service offered by the Money and Pension Service (MaPS) is funded by a levy which is collected from financial services firms by the Financial Conduct Authority at the request of DWP. MaPS have delivered the Pension Wise service since 2019. Prior to this the Pension Wise service was delivered by the Department for Work and Pensions from 2017 – 2019. The costs to deliver the Pension Wise service over the last five financial years are as follows:
*2017 – 18 | **2018 – 19 | 2019 – 20 | 2020 -21 | 2021/22 |
18.1m | 16.9m | 16.0m | 15.6m | 15.2m |
*Department for Work and Pensions
** Includes Pension Wise expenditure in DWP and Single Finance Guidance Body (now Money & Pensions Service)
The figures comprise the costs associated with Pension Wise delivery through grants, as well as MaPS employees.
The reduction in costs over time is due to operational efficiencies via grant delivery driving better value for money.
To ask the Secretary of State for Work and Pensions, whether his Department is taking steps to increase the uptake of Pension Wise appointments.
To ask the Secretary of State for Work and Pensions, whether his Department is taking steps to increase the uptake of Pension Wise appointments.
The Government has taken steps to increase take up of Pension Wise guidance. The Stronger Nudge to Pensions Guidance regulations were introduced in June 2022. This places a duty on pension schemes to ensure that any savers accessing their Defined Contribution savings have either received Pension Wise guidance or made an active and clearly expressed decision to opt out of guidance. As part of this, schemes are required to offer to book an appointment on the saver's behalf, at a time and date suitable for the saver. The Stronger Nudge aims to increase take-up of Pension Wise guidance by presenting it as a normal part of the access journey.
To ask the Secretary of State for Work and Pensions, how many appointments for the Pension Wise service have been conducted in the each of the last 5 years.
To ask the Secretary of State for Work and Pensions, how many appointments for the Pension Wise service have been conducted in the each of the last 5 years.
Data on the number of individuals attending Pension Wise appointments can be found here: MoneyHelper pension take up dashboard | The Money and Pensions Service.
To ask Her Majesty's Government what were the customer satisfaction ratings for the PensionWise service for each year since the service began; and what are the figures for the past four quarters.
To ask Her Majesty's Government what were the customer satisfaction ratings for the PensionWise service for each year since the service began; and what are the figures for the past four quarters.
The below data on customer satisfaction is collected post-appointment.
Year | Customer Satisfaction |
2016/17 | 94% |
2017/18 | 92% |
2018/19 | 93% |
2019/20 | 94% |
Prior to the formation of the Money and Pensions Service (MaPS) in 2019, satisfaction data was taken from the Pension Wise annual service evaluation and was not published quarterly. During this time The Money Advice Service, The Pensions Advisory Service, and Pension Wise had in place their own Key Performance Indicators (KPIs), along with different approaches to measuring performance. MaPS wanted to have a single programme measuring performance of their three service areas in a more consistent and joined up way. During 2020/21, there was no Pension Wise evaluation because MaPS were setting in place a new evaluation programme to achieve this.
Satisfaction data from 2021/22 is published quarterly by financial year on the MoneyHelper pensions take up dashboard. Pension Wise satisfaction scores for telephone appointments are provided quarterly by calendar year below – Q4 data is not yet available.
Quarter | Customer Satisfaction | |
2021/22 Q1 | 93.2% | |
2021/22 Q2 | 93.9% | |
2021/22 Q3 | 93.5% |
To ask Her Majesty's Government how many people had appointments with the PensionWise helpline in each calendar quarter in (1) 2018, (2) 2019, (3) 2020, (4) 2021, and (5) 2022.
To ask Her Majesty's Government how many people had appointments with the PensionWise helpline in each calendar quarter in (1) 2018, (2) 2019, (3) 2020, (4) 2021, and (5) 2022.
The information requested is available on the MoneyHelper pension take up data dashboard, where it is published quarterly by financial year. It is provided quarterly by calendar year below:
Calendar Year | QUARTER | Telephone Appts Attended | Face to Face Appts Attended | TOTAL |
2018 | Q2* | 6,087 | 15,717 | 21,804 |
2018 | Q3 | 7,035 | 17,085 | 24,120 |
2018 | Q4 | 7,955 | 17,791 | 25,746 |
2019 | Q1 | 9,432 | 20,641 | 30,073 |
2019 | Q2 | 11,344 | 21,038 | 32,382 |
2019 | Q3 | 13,051 | 21,363 | 34,414 |
2019 | Q4 | 12,385 | 17,437 | 29,822 |
2020 | Q1 | 13,477 | 21,581 | 35,058 |
2020 | Q2 | 23,821 | 0 | 23,821 |
2020 | Q3 | 27,363 | 0 | 27,363 |
2020 | Q4 | 27,058 | 1 | 27,059 |
2021 | Q1 | 34,783 | 1 | 34,784 |
2021 | Q2 | 32,727 | 0 | 32,727 |
2021 | Q3 | 29,061 | 0 | 29,061 |
2021 | Q4 | 21,270 | 0 | 21,270 |
2022 | Q1 | 31,620 | 0 | 31,620 |
*Q1 data from 2018 is not available
To ask Her Majesty's Government how many people (1) have booked, or (2) had appointments, in each calendar quarter of (a) 2021, and (b) 2022, with (i) the MoneyHelper Pension helpline, (ii) the PensionWise/MoneyHelper Pensions on divorce helpline, (iii) the PensionWise/MoneyHelper Pension safeguarding helpline, and (iv) the PensionWise/MoneyHelper mid-life pension helpline.
To ask Her Majesty's Government how many people (1) have booked, or (2) had appointments, in each calendar quarter of (a) 2021, and (b) 2022, with (i) the MoneyHelper Pension helpline, (ii) the PensionWise/MoneyHelper Pensions on divorce helpline, (iii) the PensionWise/MoneyHelper Pension safeguarding helpline, and (iv) the PensionWise/MoneyHelper mid-life pension helpline.
The information requested is available on the MoneyHelper pension take up data dashboard, where it is published quarterly by financial year. It is provided quarterly by calendar year below:
2021 | MoneyHelper Pensions Helpline* | MoneyHelper Pensions Virtual appointments** | Pension Wise appointments attended | Pension Wise appointments arranged |
Q1 | 71,522 | 125 | 34,784 | 45,376 |
Q2 | 56,089 | 93 | 32,727 | 45,221 |
Q3 | 39,166 | 113 | 29,061 | 38,344 |
Q4 | 36,465 | 107 | 21,270 | 27,620 |
2021 Total | 203,242 | 438 | 117,842 | 156,561 |
*The Pensions Helpline is a general pensions guidance service that anyone can contact with any pensions query – this service does not require appointments booked and is delivered across multiple channels. As such, this data includes the following:
- Helpline calls
- Webchat
- Online enquiries
- Attendance at outreach events
**MoneyHelper Pensions virtual appointments cover Divorce appointments, Mid-Life Pensions Review appointments for the self-employed, and Pension Loss appointments. Data on Pensions Safeguarding appointments has not yet been published.
2022 | MoneyHelper Pension helpline* | MoneyHelper Pensions Virtual appointments** | Pension Wise appointments attended | Pension Wise appointments arranged |
Q1 | 52,779 | 93 | 31,620 | 41,624 |
*The Pensions Helpline is a general pensions guidance service that anyone can contact with any pensions query – this service does not require appointments booked and is delivered across multiple channels. As such, this data includes the following:
- Helpline calls
- Webchat
- Online enquiries
- Attendance at outreach events
**MoneyHelper Pensions virtual appointments cover Divorce appointments, Mid-Life Pensions Review appointments for the self-employed, and Pension Loss appointments. Data on Pensions Safeguarding appointments has not yet been published.
Motion that this House has considered the take-up of pensions guidance and advice. Agreed to on question.
Motion that this House has considered the take-up of pensions guidance and advice. Agreed to on question.
I beg to move,
That this House has considered take-up of pensions guidance and advice.
It is a pleasure to serve under your chairmanship, Mrs Cummins. I thank colleagues for turning up after we had a late night last night. We have picked a day when pensions are topical, as we have...
I beg to move,
That this House has considered take-up of pensions guidance and advice.
It is a pleasure to serve under your chairmanship, Mrs Cummins. I thank colleagues for turning up after we had a late night last night. We have picked a day when pensions are topical, as we have...
Not my fault.
Not my fault.