Speech in Commons Chamber - Tue 02 Sep 2014
Pension Schemes Bill
"I will come back to the hon. Gentleman’s point after letting the Secretary of State come in...."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Pension Schemes Bill
Speech in Commons Chamber - Tue 02 Sep 2014
Pension Schemes Bill
"Given that Labour in opposition led the way in calling for reform of the annuities market, we welcome greater flexibility. However, because the Government have not yet introduced legislation, we do not know what the guidance guarantee will amount to, so surely any sensible Opposition doing their job would probe …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Pension Schemes Bill
Speech in Commons Chamber - Tue 02 Sep 2014
Pension Schemes Bill
"I will make a little more progress and then let in hon. Members from all parts of the Government Benches.
The Minister glosses over the tension in Government policy, suggesting that everything is coherent, but I strongly believe that that is not the case. He spent 15 minutes talking about …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Pension Schemes Bill
Speech in Commons Chamber - Tue 02 Sep 2014
Pension Schemes Bill
"I would like to take all the credit, of course— having not been in the previous Parliament—but in my opinion and that of the Opposition Front-Bench team, there is a very good case for encouraging collective provision. Politics involves evolution. I am kinder at times than the Minister, so I …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Pension Schemes Bill
Speech in Commons Chamber - Tue 02 Sep 2014
Pension Schemes Bill
"I am rarely accused of making pensions less complex, so I shall take the hon. Gentleman’s comment as a compliment. I take his point, however; there are lots of unanswered questions about how income draw-down will work. The potential impact of the reforms on the asset management of individuals’ pension …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Pension Schemes Bill
Speech in Commons Chamber - Mon 01 Sep 2014
Oral Answers to Questions
"May I press the Minister further on the question asked by my hon. Friend the Member for Brent North (Barry Gardiner)? The Government have changed the rules on pension flexibility at retirement, or are in the course of changing them, yet there are members of pension schemes who will face …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Oral Answers to Questions
Speech in Commons Chamber - Mon 23 Jun 2014
Oral Answers to Questions
"What the Minister does not tell the House, of course, is that Library figures show that someone earning just below the raised threshold for auto-enrolment could save up to £20,000 over a working lifetime—quite a decent nest egg, I am sure that we would all agree. So why have the …..."Gregg McClymont - View Speech
View all Gregg McClymont (Lab - Cumbernauld, Kilsyth and Kirkintilloch East) contributions to the debate on: Oral Answers to Questions
Written Question
Tuesday 17th June 2014
Asked by:
Gregg McClymont (Labour - Cumbernauld, Kilsyth and Kirkintilloch East)
Question
to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, how many people have fallen below the auto enrolment threshold in each year since that policy was introduced.
Answered by Steve Webb
Under the Pensions Act 2008, the automatic enrolment earnings trigger is reviewed by the Secretary of State every year, and revised if necessary. Since automatic enrolment was introduced in October 2012, two annual reviews to the trigger have been conducted. The table shows the impact of changes to the earnings trigger.
Earnings trigger revised | Number of individuals in eligible target group excluded |
From | To |
2012/13 | £8,105 | 2013/14 | £9,440 | 420,000 |
2013/14 | £9,440 | 2014/15 | £10,000 | 170,000 |
Table 1: Impact of changes to the automatic enrolment earnings trigger in each of the two annual reviews since the policy was introduced.
Note: The figures refer to the eligible target group in the private sector. This includes individuals aged 22 to the State Pension age who earn above the earnings trigger and are not in a qualifying pension scheme.
Written Question
Tuesday 17th June 2014
Asked by:
Gregg McClymont (Labour - Cumbernauld, Kilsyth and Kirkintilloch East)
Question
to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, whether he proposes that his planned charge cap on workplace pensions from April 2015 will apply to new collective defined contribution schemes.
Answered by Steve Webb
The Government's Defined Ambition Bill will bring new forms of collective pension arrangements to the UK, and it is vital that member protection, good governance and fair charges remain at the heart of this system.
Details of how any charge cap may be applied to Collective Defined Contribution schemes will be in place before this legislation is commenced.
Written Question
Tuesday 17th June 2014
Asked by:
Gregg McClymont (Labour - Cumbernauld, Kilsyth and Kirkintilloch East)
Question
to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, how many people are below the earnings threshold for auto enrolment into a workplace pension in each (a) region, (b) constituent part of the UK and (c) parliamentary constituency.
Answered by Steve Webb
The information is not available in the format requested.