§ 58. Mrs. Castle
asked the Secretary of State for Social Services what is the current sum collected per year by employers from their employees under occupational pension schemes; what estimate he has made of the increase in this sum as a result of the provisions of the Social Security Bill; how much of the current sum is invested by the employers in their own firms; and what steps he intends to take to safeguard these funds.
§ Sir K. Joseph
Members' contributions to such schemes were estimated to total £520 million in 1971. No reliable estimate can be made of increases which might result from the Social Security Bill; and no separate figures are available as to the investment of employees' contributions. The funds of recognised schemes will be supervised by the Occupational Pensions Board.