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Speech in Commons Chamber - Mon 29 Jun 2020
Oral Answers to Questions

"Informed commentators say that more than 100,000 women will be impacted by this error. Many will be older women and more likely to be living in poverty. To put this right, will the Minister agree to an investigation into this issue? Will he look again at the rules on backdating …..."
Nick Smith - View Speech

View all Nick Smith (Lab - Blaenau Gwent and Rhymney) contributions to the debate on: Oral Answers to Questions

Written Question
Industrial Health and Safety: Coronavirus
Monday 18th May 2020

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what steps the Government is taking to enforce the adoption by employers of required health and safety measures to protect their employees during the covid-19 outbreak.

Answered by Mims Davies - Shadow Minister (Women)

Where it is found that employers are not complying with Covid-19 guidelines, then appropriate action will be taken by the relevant enforcing authority including the Health and Safety Executive (HSE) and Local Authorities. Action can range from specific advice through to serving enforcement notices so as to ensure that practicable measures are implemented to protect workers and others.

In addition, HSE has been given access to additional funding to support their advice and regulatory activity as businesses implement the new guidance on working safely. HSE’s plans will develop as more businesses return to work and this will include checks that appropriate measures are in place to protect workers from Covid-19.


Speech in Commons Chamber - Mon 09 Mar 2020
Oral Answers to Questions

"Too many young people do not save for their pensions, so how can the Minister ensure that young workers are better represented in workplace pension schemes?..."
Nick Smith - View Speech

View all Nick Smith (Lab - Blaenau Gwent and Rhymney) contributions to the debate on: Oral Answers to Questions

Written Question
Pensions
Wednesday 5th February 2020

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether there are provisions to transfer out of defined benefit pension schemes into alternative investments in Pension Schemes Bill.

Answered by Guy Opperman

In answering this question, the term ‘alternative investments’ is assumed to refer to investments that the individual chooses themselves, either that are unconventional in that they carry more risk, or are not typical of investments offered by personal pension schemes.

The Pension Schemes Bill 2019-20 has no provisions that restrict how members transferring from defined benefits pensions should invest their pension rights.

Clause 124 of the Pension Schemes Bill contains provisions to amend the statutory right to transfer and thereby restricts the types of pension arrangements under which a member can compel trustees to approve a transfer request. Members can still use their statutory right to transfer to an authorised Master Trust or an FCA authorised pension arrangement.

In accordance with the principles of freedom and choice, members with defined benefit pension rights have the right to transfer to a defined contribution scheme to self-invest. These self-invested personal pension schemes can offer the member a range of investment funds, including alternative investments.

Members with a cash equivalent greater than £30,000 must seek financial advice before they transfer or convert their pension rights into flexible benefits, that can be used for alternative investments. FCA rules for pension transfer advisers require that the form of investment the member is considering on transfer is considered as part of their recommendation to the member to transfer or not. However, the member retains the right to follow or ignore the advice they receive. Where trustees’ have concerns with the alternative investments in a members’ choice of destination, they should make the member aware as part of their overall requirement to carry out due diligence in the member’s interest.


Written Question
Personal Independence Payment: Older People
Monday 9th September 2019

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether all recipients of personal independence payment (PIP) aged 65 or above will no longer receive reassessments to ensure continued receipt of PIP unless they inform her Department that their needs have changed.

Answered by Justin Tomlinson

From 31 May this year, new claimants to PIP - whose review would have been scheduled after they had reached State Pension age - are now receiving an ongoing award with a light touch review after the ten-year point. From 9 July this year, we began moving existing PIP claimants, who have reached state pension age, onto ongoing awards with a light touch review after the ten-year point. All claimants who report a change of circumstance will be reviewed in order to ensure that the claimant is receiving the correct level of award.


Written Question
Occupational Pensions
Thursday 1st August 2019

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what plans his Department has to tackle the use of shape shifting practices by employers to avoid meeting pension obligations to employees; and if he will make a statement .

Answered by Guy Opperman

The vast majority of employers are meeting their pension obligations under automatic enrolment, consistent with the legal framework established under the Pensions Act 2008. Where employers fail to comply with the law however, The Pensions Regulator (TPR) has a full range of powers to ensure employees get the pensions they are due.

TPR is aware of some employers that appear to have tried to avoid meeting their pension obligations by hiding behind a new name. TPR investigators are working to take action against offenders that try to use this tactic, and are carrying out short-notice inspections on employers that are suspected of breaching their automatic enrolment duties.


Speech in Westminster Hall - Wed 24 Jul 2019
Access to Pension Credit

"I congratulate my hon. Friend on securing this debate. Does he agree that the Government need to launch a major awareness-raising campaign about pension credit? There are more than 2,000 households in Blaenau Gwent that could be missing out on a total of £5.6 million every year. They have the …..."
Nick Smith - View Speech

View all Nick Smith (Lab - Blaenau Gwent and Rhymney) contributions to the debate on: Access to Pension Credit

Written Question
Pensions: Advisory Services
Tuesday 2nd April 2019

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what assessment she has made of the level of coordination between the Pensions Regulator and the Financial Conduct Authority in relation to defined benefit pension transfer advice.

Answered by Guy Opperman

The DWP are urging the two organisations to work much more closely together. The Pension’s Regulator and the Financial Conduct Authority carry out their functions independently. The Pension’s Regulator launched a joint protocol with Financial Conduct Authority in January 2019. The Protocol is intended to improve coordination between the Financial Conduct Authority, The Pension’s Regulator and the Pensions Advisory Service to help pension scheme trustees to ensure their members are adequately and fully informed when considering transferring their defined benefit pensions.


Written Question
Personal Independence Payment: Blaenau Gwent
Wednesday 13th February 2019

Asked by: Nick Smith (Labour - Blaenau Gwent and Rhymney)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 January 2019 to Question 204471 on Personal Independence Payment: Blaenau Gwent, what information her Department holds on the (a) number and (b) value of hardship payments made to claimants from Blaenau Gwent while awaiting payment for arrears as a result of a successful Tribunal decision.

Answered by Sarah Newton

We aim to pay arrears on overturned cases as soon as we can, providing we have all the required information to do so, for example, up to date claimant bank details.

Personal Independence Payment (PIP) is not an income replacement benefit; it can be received in or out of work therefore hardship payments are not made in these circumstances.

The Department for Work and Pensions administers a wide range of benefits and allowances for which there are a range of conditions for entitlement. Some of these benefits may be of help, including Universal Credit.


Speech in Westminster Hall - Wed 06 Feb 2019
Pensions Dashboard

"I congratulate the hon. Member for Hendon (Dr Offord) on securing the debate. To state the obvious, pensions are critical, but they can also be extremely complicated. People have an average of 11 jobs over their working life, so they are bound to build up several different pension pots over …..."
Nick Smith - View Speech

View all Nick Smith (Lab - Blaenau Gwent and Rhymney) contributions to the debate on: Pensions Dashboard