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Pension Funds

Volume 406: debated on Friday 23 May 2003

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To ask the Chancellor of the Exchequer what research has been commissioned into the potential impact on the broader economy of the condition of UK pension funds. [115304]

The Pensions Green Paper published in December 2002 found that the level of privately funded pensions is high by international standards. The performance of private pensions will reflect the underlying performance of the economy, and the fundamental drivers of a successful economy are in place. In addition, at the time of the 2002 pre-Budget report, the Treasury published an assessment of the impact of an ageing population on the public finances. The report found that the public finances are sustainable in the long term, and that the UK is in a strong position relative to many other developed countries.