§ 2. Mr. Tim Collins (Westmorland and Lonsdale)What steps she has taken to improve the framework for occupational pensions. [42929]
§ The Parliamentary Under-Secretary of State for Social Security (Mr. John Denham)We fully recognise the importance of occupational pensions in providing income for retirement. The pensions review is looking at ways to strengthen and support these schemes. We want people to understand their benefits, and we are developing proposals for a quality in pensions award to find ways of acknowledging the best in occupational pension schemes and of encouraging others to meet the standards of the best.
We will also be consulting widely on proposals to make pension schemes easier to operate, without reducing security for their members, by simplifying a number of requirements.
§ Mr. CollinsGiven that, why was the chairman of the Association of Consulting Actuaries so bitterly critical of the Government recently?
§ Mr. DenhamThe welfare reform Green Paper has made it clear that occupational pension schemes are one of the welfare success stories of the century. It is widely recognised that the way in which we pay pensions in the future will depend on the economic wealth that our economy generates. The package of measures in the Budget last year and this year are designed to create the economic conditions that will provide us with the wealth to pay all our pensions in the future.