To ask the Secretary of State for Work and Pensions, what assessment his Department has made of whether the proposed extension of the National Employment Saving Trust's operations into the retirement income market is consistent with that organisation's Public Service Obligation; and what the implications of that proposal are for competition in that market.
14 November 2016
We have recently undertaken a Call for Evidence to consider whether the National Employer Savings Trust should offer decumulation services and extend access to the scheme. The Call for Evidence closed on 5 October, and the Government is considering the full range of evidence submitted, including the organisation’s Public Service Obligation, and effect on competition. We intend to publish our response in due course.