§ 8. Sir B. Rhys Williamsasked the Secretary of State for Social Services what steps he will take to ensure that occupational pension rights are fully protected on changes of employment by the beneficiary.
§ The Under-Secretary of State for Health and Social Security (Mr. Paul Dean)We are preparing detailed proposals for legislation on the preservation of occupational pension rights.
§ Sir B. Rhys WilliamsWill my hon. Friend remember that, according to the best estimates, people who change their jobs are losing their pension rights at the rate of at least £1 million every week; and will he ensure that legislation on this matter is brought in very soon, and not, perhaps, in 1972?
§ Mr. DeanI assure my hon. Friend that it will be done as quickly as possible. In the meantime, I hope that the growing good practice of occupational pensions schemes in providing for preservation will continue, backed up, I hope, by my hon. Friend's efforts.
§ Mr. O'MalleyWill the hon. Gentleman assure the House that the Government intend to honour the statements which they made in the previous Parliament regarding the preservation of occupational pensions, and, further, will he ensure that the pension thus preserved will be at least as good as that provided by the residual pension, and that the residual pension also will be at a high level?
§ Mr. DeanI assure the hon. Gentleman that we are as enthusiastic about this in government as we were in opposition.