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Personal Accounts: Information Services

Volume 470: debated on Thursday 24 January 2008

To ask the Secretary of State for Work and Pensions what estimate he has made of the funding that will be made available for advice and information on personal accounts in each year from now until 2050. (177956)

We envisage that scheme information costs will be borne by membership charges and will be a matter for the trustees.

The question of what additional information will be given to all those auto-enrolled, whether into personal accounts or another pension scheme, is one which we will address in the years leading up to the reforms. We will do this in partnership with organisations which already provide information on pensions, bodies such as The Pensions Advisory Service, and pension providers, as well as organisations representing consumers.

We will be building on the considerable provision that already exists, and the funding implications will emerge from those discussions. The Thoresen Review, and the Government action plan on financial capability will also assess the need to add to the services on offer.