DWP annuity and pension charge reform 'stalled', say MPs


Progress on the annuities market, charges and defined ambition (DA) may have "stalled", the Work and Pensions Select Committee says.

In its report, Monitoring the performance of the Department for Work and Pensions (DWP) in 2013-14, the committee said it had expected to carry out pre-legislative scrutiny on the government's DA proposals by now. However, although the government consulted on DA in autumn last year, it has yet to publish a response. The committee said in its report: "The momentum for bringing forward these proposals may have stalled. "It is important, as auto-enrolment (AE) widens out to the whole of the working population, and with the continuing closure of private sector defined benefit (DB) sche...

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