§ 13. Mr. Shepherdasked the Chancellor of the Exchequer to what extent Her Majesty's Government afford transferability of pension rights to their employees.
§ Mr. MacDermotEstablished civil servants may have their pension rights transferred on movement to almost any other pensionable employment in the public services or in the nationalised industries. They may also preserve the pension they have so far accrued on transfer to employment which is approved for this purpose or on voluntary resignation over the age of 50.
§ Mr. ShepherdDoes not that generally mean that there is no real transferability in public service and in or out of the public service? As the Government have indicated that transferability is their objective, why does not the Minister set an example?
§ Mr. MacDermotI cannot accept what the hon. Member says. The public service sets an example in this matter of transferability of pension rights. There is complete transferability within the public service and there is considerable transferability from the public sector to the private sector. One cannot extend that, however, unless it is reciprocated. It is because so many of the pension arrangements in the private sector are not adjusted to facilitate similar transferability that it is difficult to extend it. We are, however, looking into the whole question. It is at present being studied by a sub-committee of the Minister of Labour's National Joint Advisory Council.
§ Mr. ShepherdWould the Minister agree that to set an example in this extremely difficult field—I do not underrate the difficulties—would be the best way of bringing the result that most of us want to achieve?
§ Mr. MacDermotI repeat that we are setting an example.