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Occupational Pensions Schemes

Volume 406: debated on Monday 9 June 2003

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23.

To ask the Secretary of State for Work and Pensions if he will make a statement on the number of occupational pensions schemes that have closed in the last year. [117305]

The recent Green Paper 'Simplicity, security and choice: Working and Saving for Retirement' (Cm5677) set out proposals to minimise the number of pension scheme closures or wind-ups by encouraging employers to promote and persevere with pension schemes of all kinds. We intend significant simplification of the regulatory regime which could save employers considerable amounts of time and money.