(2) when he decided to publish an initial report in summer 2007 on pension scheme assets held by schemes in wind-up with a deficiency of assets in addition to a final report before the end of the year; for what reasons; and if he will make a statement;
(3) whether the initial report on pension scheme assets held by schemes in wind-up with a deficiency of assets is planned to be published before the summer parliamentary recess 2007.
On 28 March 2007 the Secretary of State announced a review to examine how the best use could be made of the assets in pension schemes that are winding up underfunded. He also said the review would consider any suggestions from interested and concerned parties.
On 23 April 2007 in a letter placed in the House, the Minister of State for Pensions Reform provided the full terms of reference which referred specifically to the review considering other sources of non-public expenditure funding (that have not already been allocated). It also stated
“The Review will provide an initial view in the summer, consult formally in the autumn and then report by the end of the year.”
We expect that an initial report will be provided before the summer parliamentary recess of 2007.