All the updated news related to work and pensions committee

All the news related to work and pensions committee updated in real time

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Personal Finance

Workplace pensions provision should be levelled up, MPs told

There should be a “levelling up” of workplace pensions provision, with minimum contributions being increased in the coming years, MPs have heard. Nigel Peaple, director of policy and advocacy at the Pension and Lifetime Savings Association (PLSA), ...

23 Feb 2022 at 11:25

Personal Finance

People could be nudged to consider work, wealth and wellbeing earlier on in life

People could be given nudges earlier in their adult lives to help their wealth and overall wellbeing, pensions and financial inclusion minister Guy Opperman has suggested. They could possibly receive prompts to consider their options during life ...

06 Jul 2022 at 12:17

Parents on Universal Credit ‘prisoners to the high cost of childcare’, MPs warn

Parents on Universal Credit (UC) who want to work or increase their hours are being held “prisoners to the high cost of childcare”, MPs have warned. Support for childcare costs through the benefit is only enough to cover part-time hours and is ...

20 Dec 2022 at 00:01

City

Regulators say pensions system needs change after mini-budget turmoil

Financial regulators have said that the pensions system needs to change following the mini-budget market turmoil that saw some pension schemes scrabbling for cash. The Pensions Regulator (TPR), which regulates pension schemes and advises how ...

14 Dec 2022 at 14:07

Mini-budget chaos exposed ‘lax approach’ to pensions regulation, MPs say

More needs to be done to address “significant weaknesses” in pension schemes exposed by the disruption that followed the Liz Truss mini-budget, MPs have said. A rapid rise in gilt yields after the September 2022 mini-budget threw pension ...

23 Jun 2023 at 09:11

Therese Coffey signals possible review of benefit cap amid cost-of-living crisis

The Government might review the benefit cap between now and April next year in light of the cost-of-living crisis, Work and Pensions Secretary Therese Coffey has told MPs. Asked by the Work and Pensions Committee if the level of the cap ...

29 Jun 2022 at 12:20

Personal Finance

‘Speedy compensation needed’ for women affected by state pension communications

Women affected by the way state pension hikes were communicated should receive fast and fair compensation, a committee of MPs has heard. The Work and Pensions Committee hearing took place after a report by the Parliamentary and Health ...

07 May 2024 at 14:41

Report shows ‘lack of trust’ in system for health assessments

A report by the Work and Pensions Committee has found a “profound lack of trust” in the system of health assessments for benefits, with the committee recommending some “quick and easy changes” to restore confidence. The system is in ...

14 Apr 2023 at 02:23

Thousands more pensioners in poverty due to winter fuel payment cut – DWP

Tens of thousands more pensioners will be in poverty every year as a result of the restriction to the winter fuel allowance, Government estimates have revealed. Limiting the payment will mean an estimated 50,000 more pensioners are ...

19 Nov 2024 at 16:43

Thousands forced into poverty by winter fuel squeeze, Government estimates

The squeeze on winter fuel payments will force 100,000 pensioners into poverty in 2026, according to the Government’s own estimates. Chancellor Rachel Reeves limited access to the benefit, worth up to £300 in a cost-saving measure ...

19 Nov 2024 at 18:30

Pensions Secretary guarded on whether benefits will rise in line with inflation

A decision about whether benefits and pensions will be uprated in line with inflation will not be made until “at least” November 17, the new Work and Pensions Secretary has said. Mel Stride remained closely guarded as the Commons ...

31 Oct 2022 at 17:23

Personal Finance

More reassurances needed as people lose faith in state pension age, MPs told

More should be done to give people reassurances over the age at which they can expect to retire, a committee of MPs has heard. Sally West, policy manager at Age UK, highlighted people’s perceptions that the “goal posts” would be ...

22 Feb 2023 at 12:13

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