Pension Fund Investments Climate Change 2020-01-27
2020-01-27
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Q1
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Context
UK occupational pension schemes have a significant role in supporting the Government's commitment to net zero by 2050. The Secretary of State is addressing steps taken to encourage these funds to make climate-friendly investment decisions.
What steps she is taking to work with pension funds to encourage them to make investment decisions that help tackle climate change. I welcome the progress made but ask for a meeting concerning a constituent unable to access her pension without paying over £2,000 in fees for independent financial advice—money she does not have until accessing the fund.
Welcomes the MP to the House and agrees to meet him soon. Explains that Parliament required a £30,000 threshold before an individual can withdraw their defined benefit pension without independent financial advice, ensuring individuals are protected from uninformed decisions.
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