Bill · started in the Commons

Private Pensions (Charges, Disclosure and Accountability) Bill

A Bill to require firms offering regulated private pensions services to exercise a fiduciary duty of care to consumers and other users of financial services, to exercise due diligence when making decisions on behalf of consumers, to provide clear information to consumers on all charges and costs paid by the consumer or the pension fund on the consumer’s behalf and to disclose any conflict of interest and potential conflict of interest including commercial relationships that might result in or be perceived to result in financial detriment to consumers or undermine the integrity of financial markets; to make provision for disclosure by postcode of the location of investors in private pension funds; to make provision for an Annual General Meeting for each private pension fund; and for connected purposes.

The story so farThe Private Pensions (Charges, Disclosure and Accountability) Bill was introduced in the House of Commons on 1 March 2012 by Mr Gareth Thomas (Labour). It is now at second reading in the House of Commons. Second reading is the first debate on the overall principle of the bill; if the bill clears it, detailed committee scrutiny follows.

Progress through Parliament

Source: the official bill page. Last updated 1 May 2012.