UK - Official figures used in the pensions Green Paper may be wrong, MPs have been told.
The Conservatives claim there is a £10bn “black hole” in the latest data from the Office of National Statistics on pension contributions.
Conservative spokesman David Willetts suspects the data has suffered from double counting in group insured pension plans.
And he has challenged work and pensions secretary Andrew Smith to launch an independent investigation into the possible discrepancy.
If the figures are wrong, the ONS’s final revised estimate for annual payments into pension funds of £46bn should, in fact, be nearer £36bn.
Smith said any investigation of the figures would be brought about through the pensions advisory group suggested in the Green Paper.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
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