HM Government

Savers will also be able to access information about where their money is invested, opening up the possibility of people having greater choice over where their pension is invested.

Failure to provide this information could cost occupational workplace pension scheme trustees up to £50,000 from April 2018.

Up to 10 million people could benefit from the move.

This is the next step the government is taking to ensure savers receive good value for money from their pension, that their pension will meet their needs for retirement, and that savers are better able to maximise savings.

Secretary of State for Work and Pensions David Gauke said:

The government is beginning to address a fundamental imbalance that exists in the pensions industry.

For too long savers have been in the dark about where their pension is invested, what they are paying for, and why they are paying it.

I want people to have a strong sense of personal ownership over their pension savings. These proposals do just that and will open the industry.

By giving people the tools to better understand their options and compare value for money, I believe we are creating a generation of smarter, more informed savers.

Today’s announcement comes on the back of the latest pension charges survey which shows that 98% of eligible members are at or below the 0.75% cap introduced by government.

However with the survey also showing a clear lack of transparency on some costs in pension schemes, the government is proposing that members receive an annual benefit statement where they can find the costs and charges for their scheme.

Publication of charge and transaction cost information will enable pension scheme trustees and others to compare the value for money they are receiving with their peers, thereby driving better market outcomes.

Government will also compel schemes to publish an illustration of the compounding effect of the costs and charges affecting their pension savings.

The Financial Conduct Authority (FCA) will consult on corresponding rules for workplace personal pensions in the new year.

The consultation is open for 6 weeks.

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As part of her commitment to tackle the injustice of mental illness the Prime Minister commissioned an independent review of mental health and employers which has found that around 300,000 people a year are leaving their jobs each year due to mental illness – costing employers up to £42 billion annually.

The Prime Minister is today confirming that NHS England and the Civil Service – two of the country’s largest employers – will abide by the recommendations of the report.

As a result NHS and Civil Service employees will now be guaranteed tailored in-house mental health support. Alongside this, NHS England and the Civil Service will:

• introduce a set of core and enhanced standards which will ensure employees have the knowledge, tools and confidence to understand and look after their own mental health – and the mental health of their colleagues

• have support in place to help prevent mental illness being caused or worsened by work and equip those who have a mental illness to thrive

• be held to account for delivering these standards by their relevant regulators so that employees can have faith they are being introduced effectively

Prime Minister Theresa May said:

I have made it a priority of this government to tackle the injustice of mental illness.

Vital to this is the need to have a comprehensive cross-government plan which transforms how we deal with mental illness not only in our hospitals or crisis centres but in our classrooms, shop floors and communities.

That’s why I commissioned this important review which starkly illustrates the cost of untreated mental illness – around 300,000 people with a long term mental health problem are losing their jobs each year.

And that has a big impact on businesses which are losing up to £43 billion each year as a result.

So we need to take action. That’s why I am immediately asking NHS England and the Civil Service – which together employ more than two million people – to accept the recommendations that apply to them.

With so many of our leading businesses leading the way in this area – and reaping the rewards as a result – I am sure that the private sector will follow suit.

It is only by making this an everyday concern for everyone that we change the way we see mental illness so that striving to improve your mental health – whether at work or at home – is seen as just as positive as improving our physical wellbeing.

The report from Lord Dennis Stevenson, a long-time campaigner for greater understanding and treatment of mental illness, and Paul Farmer CEO of Mind and chair of the NHS Mental Health Taskforce includes 40 recommendations for the public and private sector.

The Prime Minister is today writing to all metro mayors and key business groups including the CBI, IoD and Federation of Small Businesses to draw attention to the review and encourage them to implement the recommendations in their organisations and across their networks.

The government will consider the wider recommendations and respond in due course.

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• Alun Cairns calls for swift progress in the delivery of Swansea Bay Region City Deal during keynote speech in the city
• UK Government announces £800,000 new investment in Swansea University’s SPECIFIC centre for UK’s first energy positive office
• Welsh Secretary to visit city centre gallery as part of fact-finding visit for the race for the UK City of Culture 2021 title

Secretary of State for Wales Alun Cairns will call on all partners to “pull together and make the Swansea Bay Region City Deal vision a reality” when he addresses delegates at the Policy Forum for Wales event in Swansea today (26 October).

Mr Cairns’ speech forms part of a wider visit to Swansea where he will also announce a £800,000 UK Government backed investment in Swansea University’s SPECIFIC Innovation and Knowledge Centre.

The funding, delivered by Innovate UK, will be used to construct the world’s first energy positive office, capable of generating more energy than it uses.

In March this year, the Secretary of State stood alongside the Prime Minister and local partners to sign the Swansea Bay Region City Deal.

It is a deal which is expected to deliver more than 9,000 jobs and £1.3billion of investment through 11 targeted projects which will see Wales placed front and centre of global science and innovation.

Seven months on since the signing of the agreement, Mr Cairns will take to the stage at the Marriott Hotel to urge partners to now “push forward to delivery” so that the people of Swansea can start to “see the tangible benefits and investment being made.”

During the speech, he will outline how Swansea is benefitting from the UK Government’s prioritising of its infrastructure investment. The recent introduction of the innovative bi-mode Intercity Express trains will benefit passengers travelling across South Wales and the Government is also looking at making station improvements in Swansea and at ways to deliver direct services from London through to Pembroke Dock.

Secretary of State for Wales Alun Cairns said:

These are exciting times for the Swansea region – not only because the dynamism of the projects that will be delivered through the City Deal, but also through the other investments that are being made in infrastructure that will stand the test of time.

The UK Government is ambitious for Swansea. That is why we are empowering the area to make the decisions to support the city’s own economic growth, boost employment and attract investment.

We need to seize the opportunities that are coming Swansea’s way. The potential the region has is immense but it is crucial that all levels of government, private and public sectors work together to drive it forward and make the region the powerhouse of innovation it deserves to be.

The energy positive office will be manufactured using cutting edge off-site manufacturing techniques and incorporate cutting edge, innovative energy harvest, storage and release technologies. The building will be completed by April 2018 and will be occupied immediately by up to 40 members of staff.

SPECIFIC is led by Swansea University and works with more than 50 partners from academia, industry and government to deliver its vision for buildings as power stations.

The Active Office will be linked to the Active Classroom – an existing space which provides teaching space and a laboratory for Swansea University students, as well as a building-scale development facility for SPECIFIC and its industry partners.

Secretary of State for Wales Alun Cairns said:

The UK Government is committed to leading the world in delivering clean energy technology and today’s investment shows that we are prepared to support innovation in this critical area.

Research and innovation has a proven track record of helping drive our economy. Swansea University is making a huge contribution in this area, making great strides in science and research which is receiving plaudits all over the world. I look forward to seeing this new investment come to life and hope it will provide another boost to the ground-breaking research being taken forward by the University.

Ruth McKernan, Chief Executive of Innovate UK, said:

Building the UK’s first office that creates more power than it uses is a significant step, and I’m proud that it is Innovate UK funding that is making it happen. The Active Office heralds the future for building design and is a testimony to the fantastic work being done at Swansea University by the SPECIFIC team. This flagship demonstration of the ‘buildings as power stations’ concept will draw visitors from around the world and give us a glimpse of the future.

Professor Richard Davies, Vice Chancellor of Swansea University, said:

It is exciting to see SPECIFIC’s innovative ‘buildings as power stations’ concept becoming a practical reality. The Active Office at our magnificent Bay Campus follows closely on the heels of the ground-breaking Active Classroom. As well as demonstrating what is now possible off the grid, the new building will share energy with the Active Classroom, showing how buildings can work together to create energy resilient communities.

While in the city, the Secretary of State will also take the opportunity to find out more about the case being put forward by Swansea in the race for the UK City of Culture title in 2021.

He will visit the Glynn Vivian Art Gallery where curator Jenni Spencer-Davies will escort him on a tour of the gallery and provide an overview of the recent multi-million pound redevelopment of the space.

The Grade II listed gallery, which was founded in 1911, benefitted from a Thanks in part to a £576,500 Heritage Lottery Fund cash injection to help transform it into a destination art gallery of international significance, featuring new spaces for touring exhibitions, displays and lectures as well as a fully accessible entrance, café and shop.

NOTES TO EDITORS

• Innovate UK is the UK’s innovation agency. Innovate UK drives productivity and growth by supporting businesses to realise the potential of new technologies, develop ideas and make them a commercial success.

• The Swansea Bay City Region includes the local authority areas of Carmarthenshire, Swansea, Pembrokeshire and Neath Port Talbot, joined by Abertawe Bro Morgannwg and Hywel Dda University Health Boards, Swansea University and the University of Wales Trinity St David’s, and private sector partners.

• Innovation and Knowledge Centres (IKCs) were co-funded by the Engineering Physical Research Council (EPSRC) and Innovate UK as a key component of the UK’s approach to the commercialisation of emerging technologies through creating early stage critical mass in an area of disruptive technology. They are able to achieve this through their international quality research capability and access to companion technologies needed to commercialise research.

• IKC SPECIFIC was set up in 2011 with 5-year grant commitments from EPSRC, Innovate UK and Welsh Government, with phase II commitment in April 2016. There has been further investment across both phases from Swansea University, strategic industrial partners (BASF, NSG Pilkington and Tata Steel) and additional support from Cardiff University. IKC Specific has generated more than £40m of funding for allied R&D projects such as Sêr Solar and Swansea University’s Materials and Manufacturing Academy. The centre has developed research links with a number of other universities working in complementary research areas

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MAIB’s report on the grounding of the ultra-large container vessel CMA CGM Vasco de Gama on the western side of the Thorn Channel whilst approaching the Port of Southampton on 22 August 2016, is now published.

The report contains details of what happened and subsequent actions taken, read more.

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The Scotland Office hosted the launch of this year’s appeal, with ministers encouraging everyone to use their old ‘round pounds’ to purchase their poppy.

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