UK - A Tory Bill to amend the age-75 rule has cleared the first hurdle and will now get a second reading in the Commons.
The Retirement Income Reform Bill passed the first reading by 127 votes to 26.
Tory MP Edward Garnier, who presented the Bill, said he was encouraged that it had been given a second reading by such an “amazing majority”.
He said: “This is a simple measure designed to increase choice of pension provision at a time when the public’s confidence in the state and in the industry is at an all-time low.”
He added: “I trust that the government will work with us rather than against us in the interests of the public.”
But not all MPs favoured the Bill.
Labour MP Andrew Dismore deliberately spoke in parliament for two and a half hours in an attempt to block the Bill.
Dismore said the Bill does not provide practical assistance to “99% of pensioners”.
He added: “Practical assistance can be delivered much more effectively through taxation changes which the government is currently consulting on.”
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.