Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have undertaken of the impact of establishing independent governance committees to improve oversight of defined contribution pension schemes.

This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.

The question has been passed to the FCA, who will reply directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.