Sale Of Personal Financial Services
EDM number 260 in 1993-94, proposed by John Denham on 14/12/1993.
That this House notes the SIB inquiry into the mis-selling of personal pensions to members of occupational pension schemes, but also notes with concern that a third of all personal pension schemes are cancelled within two years leading to the loss of investors' savings, that many individuals have been encouraged to opt-out of SERPS for inappropriate personal pensions, and that the churning of investment schemes including endowment mortgages, has been widespread in recent years leading to further losses for savers; and, therefore, urges the Government to establish an inquiry into the regulation and management of the personal financial services industry.
This motion has been signed by a total of 77 MPs.
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