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Pension Mis-selling

Volume 450: debated on Thursday 19 October 2006

To ask the Secretary of State for Work and Pensions how many cases of pension mis-selling there have been in each of the last 20 years; and what percentage of the total workforce each figure represents. (93509)

I have been asked to reply.

This information is not held centrally. In 1994-95 the financial services regulators set out a programme of review by authorised firms of personal pensions sold between April 1988 and June 1994. The review was intended to identify cases where people were badly advised to opt out of, not join, and/or transfer funds from an occupational pension scheme in favour of a personal pension.