PENSION TRANSPARENCY

That this House notes recently reported comments by the Chief Economist at the Bank of England that, while he considers himself to be moderately financially literate, he confessed to not being able to make the remotest sense of pensions; expresses alarm that a senior Bank of England economist is reported as making this comment while working people have to try and make sense of their own pension preparations; and calls on the Chancellor of the Exchequer to introduce radical reform, openness, simplicity and transparency so that millions of UK citizens can more adequately prepare for their own retirement.