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Pensions

Volume 488: debated on Wednesday 25 February 2009

To ask the Secretary of State for Work and Pensions what his estimate is of the number of pension funds which invest in mortgage-backed securities; and if he will make a statement. (257085)

The information requested is not available in the format requested. Such information as is available is as follows.

The Purple Book 2008 produced by the Pension Protection Fund (PPF) and the Pensions Regulator covers most PPF-eligible defined benefit pension schemes.

Mortgage backed securities are not recorded as a separate item within the Purple Book data and are grouped under the category ‘Other’. This category includes several separate asset classes.

The category ‘Other’ constitutes 3.7 per cent. of total scheme assets, and 17 per cent. of schemes hold assets from this category.

As mortgage backed securities are grouped together with other classes of asset they will only be a very small fraction of the 3.7 per cent. of total assets within the category.