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Occupational Pensions

Volume 210: debated on Tuesday 30 June 1992

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To ask the Secretary of State for Social Security when he will introduce regulations to implement the employer debt provision for occupational pensions set out in the Social Security Act 1990.

I have today laid before Parliament the Occupational Pension Schemes (Deficiency on Winding Up etc.) Regulations 1992 which bring into effect section 58B of the Social Security Pensions Act 1975 as introduced by the Social Security Act 1990 under which a deficiency in a pension scheme that is wound up becomes a debt to the employer.