Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what steps his Department is taking to improve private pension outcomes for people with mental health problems.

The Department is committed to ensuring everyone including those with mental health problems are equipped to plan appropriately for retirement by ensuring they have access to clear, simple information and guidance.

We have introduced regulations requiring defined contribution schemes (used for automatic enrolment) to send simpler and shorter statements to members, covering key information savers need to engage with and understand their pensions. The Stronger Nudge to pensions guidance regulations, which came into force on 1 June 2022, ensures no-one will be able to access their savings through pension freedoms without having received Pension Wise guidance or opted out of receiving it.

The Money and Pensions Service (MaPS) offers free and impartial guidance to help people make more informed decisions about their pensions. MaPS’ services are designed for people with varying needs, including mental health problems, and it recently reviewed its guidance to ensure its in line with the Financial Conduct Authority’s vulnerable customers policy.

The organisation delivers pension guidance through a range of channels and accessible formats and conducts user testing which includes people with mental health problems. MaPS’ frontline pension specialists also receive training to support people who have mental health problems