Better Pensions

EDM number 2868 in 2010-12, proposed by Gregory Campbell on 14/03/2012.
Categorised under the topic of Pensions.

That this House recognises there are nearly one million people in the UK whose pensions, having been taken out on or before 1990, have a guaranteed annuity provision, meaning that they could qualify for significantly higher pension payments provided they are aware of the provision and exercise it; acknowledges that many financial services companies do not highlight the advantage these provisions offer; and calls on the Pensions Ombudsman and the Government to do what they can to ensure that the almost one million people are able to benefit from a pension that could be worth almost twice what they will get, at no extra cost, than if they do not take advantage of the guaranteed annuity provision.

This motion has been signed by a total of 13 MPs.