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Hidden Costs In Pension And Saving Funds

EDM number 2597 in 2010-12, proposed by Gareth Thomas on 12/01/2012.
Categorised under the topic of Pensions.

That this House notes with concern the presentation to HM Treasury by Dr Christopher Sier, a former consultant to investment managers, and David Norman, formerly Chief Executive of Credit Suisse Asset Management (UK) that high pension and saving fund hidden costs are not fully understood by consumers, could damage the fragile savings culture in the UK, are estimated to cost 67.2 billion a year with the greatest cost being wages and bonuses for traders and fund managers, and are rising; further notes that even the costs which are made public reveal that UK funds are in many cases more expensive to invest in than funds in France, Germany and the US; believes that without reform pension funds management business opportunities for the UK financial services industry could be lost; and calls on the Government to take urgent action to drive pension charges down and help the next generation of pensioners and the communities they live in to have a safer, more secure future.

This motion has been signed by a total of 50 MPs.

MPDateConstituencyPartyType
Gareth Thomas12/01/2012Harrow WestLabourProposed
Tristram Hunt12/01/2012Stoke-on-Trent CentralLabourSeconded
Rushanara Ali12/01/2012Bethnal Green and BowLabourSeconded
Mike Gapes12/01/2012Ilford SouthLabourSeconded
Tom Harris12/01/2012Glasgow SouthLabourSeconded
Kate Green12/01/2012Stretford and UrmstonLabourSeconded
Paul Goggins12/01/2012Wythenshawe and Sale EastLabourSigned
Gordon Banks12/01/2012Ochil and South PerthshireLabourSigned
Hugh Bayley12/01/2012York CentralLabourSigned
Joe Benton12/01/2012BootleLabourSigned
Gerry Sutcliffe12/01/2012Bradford SouthLabourSigned
Malcolm Wicks12/01/2012Croydon NorthLabourSigned
Roberta Blackman-Woods12/01/2012City of DurhamLabourSigned
Helen Goodman12/01/2012Bishop AucklandLabourSigned
Phil Wilson12/01/2012SedgefieldLabourSigned
Lindsay Roy12/01/2012GlenrothesLabourSigned
Yasmin Qureshi12/01/2012Bolton South EastLabourSigned
Heidi Alexander12/01/2012Lewisham EastLabourSigned
Chris Evans12/01/2012IslwynLabourSigned
Jim Dobbin12/01/2012Heywood and MiddletonLabourSigned
Geraint Davies12/01/2012Swansea WestLabourSigned
Tony Cunningham12/01/2012WorkingtonLabourSigned
John Cryer12/01/2012Leyton and WansteadLabourSigned
Jeremy Corbyn12/01/2012Islington NorthLabourSigned
Michael Connarty12/01/2012Linlithgow and East FalkirkLabourSigned
Karen Buck12/01/2012Westminster NorthLabourSigned
Alun Michael12/01/2012Cardiff South and PenarthLabourSigned
John Mann12/01/2012BassetlawLabourSigned
Kelvin Hopkins12/01/2012Luton NorthLabourSigned
Mark Hendrick12/01/2012PrestonLabourSigned
Dennis Skinner12/01/2012BolsoverLabourSigned
Jim Sheridan12/01/2012Paisley and Renfrewshire NorthLabourSigned
Clive Efford12/01/2012ElthamLabourSigned
Mark Durkan16/01/2012FoyleSocial Democratic and Labour PartySigned
Virendra Sharma16/01/2012Ealing, SouthallLabourSigned
Peter Bottomley16/01/2012Worthing WestConservativeSigned
Alan Meale16/01/2012MansfieldLabourSigned
Adrian Sanders17/01/2012TorbayLiberal DemocratSigned
Sandra Osborne17/01/2012Ayr, Carrick and CumnockLabourSigned
Martin Caton17/01/2012GowerLabourSigned
Mike Hancock17/01/2012Portsmouth SouthLiberal DemocratSigned
Albert Owen18/01/2012Ynys MLabourSigned
Gregory Campbell18/01/2012East LondonderryDUPSigned
Hywel Francis18/01/2012AberavonLabourSigned
Linda Riordan18/01/2012HalifaxLabourSigned
Graeme Morrice18/01/2012LivingstonLabourSigned
John Pugh19/01/2012SouthportLiberal DemocratSigned
Paul Flynn19/01/2012Newport WestLabourSigned
Tony Lloyd23/01/2012Manchester CentralLabourSigned
David Crausby30/01/2012Bolton North EastLabourSigned

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