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Occupational Pension Schemes

Volume 931: debated on Tuesday 10 May 1977

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25.

asked the Secretary of State for Social Services what consultations he has had concerning the Government proposals to introduce a Bill to give trade union members a right to a 50-50 control of occupational pension schemes.

My right hon. Friend and I have had extensive consultations on the Government's proposals about the rôle of members in the running of occupational pension schemes. Those consulted include the TUC, the CBI, and organisations concerned with pension schemes, as well as a number of employers and pension scheme trustees. One result of these consultations, for example, is that the Government now propose to require that, subject possibly to certain exceptions, persons nominated by the relevant trade unions to sit on administrative or trustee bodies must be members of the pension scheme.

43.

asked the Secretary of State for Social Services when he intends to conclude his consultations with the pensions industry on employee participation.

I cannot say. My right hon. Friend in his reply to the hon. Member for Hereford (Mr. Shepherd) on 8th February—[Vol. 925, c. 1204–5]—gave an undertaking to report the outcome of these consultations to the House.