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Alternatively Secured Pensions

Volume 450: debated on Monday 16 October 2006

To ask the Chancellor of the Exchequer (1) what the Government’s policy is on the future availability of Alternatively Secured Pensions; and if he will make a statement; (93713)

(2) whether there is a requirement to be a member of the Plymouth Brethren for the purposes of taking out an Alternatively Secured Pension;

(3) whether he has had discussions with the Financial Services Authority on issuing guidance to regulated firms on the sale of Alternatively Secured Pensions;

(4) whether future changes to the tax treatment of Alternatively Secured Pensions will apply to existing contracts;

(5) what assessment he has made of the extent to which the rules on Alternatively Secured Pensions discriminate against any individuals on the grounds of their religious faith.

The information requested can be found at paragraph 5.61 and 5.62 of the Budget 2006: A strong and strengthening economy (HC 968).

The Government have extensive discussions with the FSA on a wide range of issues. As an independent regulator the FSA is responsible for its own guidance to regulated firms.