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Private Pensions (Charges, Disclosure and Accountability) Bill 2010-12

Type of Bill:
Private Members' Bill (Presentation Bill)
Sponsor:
Mr Gareth Thomas

Progress of the Bill

Bill started in the House of Commons

  1. House of Commons
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  2. House of Lords
    1. 1st reading
    2. 2nd reading
    3. Committee stage
    4. Report stage
    5. 3rd reading
  3. Consideration of Amendments
  4. Royal Assent

Latest Bill

This Bill is being prepared for publication.

Latest news on the Bill

The sponsoring MP has nominated 27 April 2012 for the second reading. As the House is not expected to sit on this day it is unlikely to be debated on this date. The sponsoring MP may choose another day for the second reading.

This Bill was presented to Parliament on 1 March 2012. This is known as the first reading and there was no debate on the Bill at this stage. 

This Bill is a Private Member’s Bill. These are often not printed until close to the second reading debate. If the text is not yet available here and you wish to know more about this bill please contact its sponsor, Mr Gareth Thomas.

Summary of the Bill

A Bill to require firms offering regulated private pensions services to exercise a fiduciary duty of care to consumers and other users of financial services, to exercise due diligence when making decisions on behalf of consumers, to provide clear information to consumers on all charges and costs paid by the consumer or the pension fund on the consumer’s behalf and to disclose any conflict of interest and potential conflict of interest including commercial relationships that might result in or be perceived to result in financial detriment to consumers or undermine the integrity of financial markets; to make provision for disclosure by postcode of the location of investors in private pension funds; to make provision for an Annual General Meeting for each private pension fund; and for connected purposes.

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