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Pension Funds

Volume 885: debated on Thursday 30 January 1975

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asked the Chancellor of the Exchequer what is the estimated holding of superannuation and pension funds in the equity of British industry; and what percentage of total investment in equity this represents.

The available information relates to the equity capital of all United Kingdom companies, including financial as well as industrial and commercial companies. The latest figures for the equity capital of all companies, whether quoted or unquoted, relate to the end of 1966, but figures for quoted companies are available as at end 1973. The information is as follows:

In addition to the figures shown above for independent superannuation or pension schemes, many employers make use of facilities provided by life assurance companies. Figures of company securities held by life assurance companies in respect of occupational pension business are not in general distinguished, since a single fund is maintained for all longterm business including individual pensions and ordinary life assurance. At the end of 1966 the ordinary shares held by insurance companies' long-term funds were valued at £3,022 million—quoted companies—and £46 million—unquoted companies—which represented respectively 12·8 per cent. of the equity capital of quoted companies, 1·1 per cent. of that of unquoted companies; and 11·1 per cent. of all companies.