HC Deb 01 May 1967 vol 746 cc81-2
44. Mr. Spriggs

asked the Minister of Labour if he will give details of those pension and superannuation schemes which are now transferable with his approval and whether transfer is retrospective.

Mr. Hattersley

A committee of the National Joint Advisory Council reported last year that the rules of pension schemes covering about three-quarters of existing members provided for some degree of preservation on withdrawal. Fuller details are given in the committee's published report. No approval from my right hon. Friend is required for transferability.

Mr. Spriggs

How far back can a person transfer the funds from one superannuation scheme to another?

Mr. Hattersley

I take it that my hon. Friend means what period should elapse between leaving one job and taking the next and then transferability being made possible. This subject is still under review but my right hon. Friend, of course, realises the importance of making that period as long as possible.

Mr. Fletcher-Cooke

Does the hon. Gentleman realise that many of the nationalised industries are somewhat backward in allowing transferability of pension rights, particularly when the employee goes to the private sector? Will he look into the matter?

Mr. Hattersley

I understand that difficulty, and the hon. and learned Gentleman has my assurance that all these matters are receiving attention.