§ 27. Sir B. Rhys Williamsasked the Secretary of State for Employment and Productivity what study she is making of 25 the methods by which the value of assets held in trust for employees by the trustees of occupational pension schemes can be defined for each individual employee at any stage of his career; and if she will make a statement.
§ Mr. HattersleyThe accrued rights of employees who are members of occupational pension schemes will need to be defined in order to give effect to legislation on preservation of pension rights. The method of calculation is under active consideration with those who operate pension schemes.
§ Sir B. Rhys WilliamsDoes the hon. Gentleman appreciate that once the individual beneficiary's rights in occupational pension schemes can be defined precisely the way to transferability is wide open?
§ Mr. HattersleyI hope that that was the implication of the previous Answer. The problems of definition are such that I do not think it feasible for any law to stipulate that where a definition can be arrived at transferability is an obligation on the parties.