§ Mr. Frank Field
To ask the Secretary of State for Social Security if he will list for each year since the regulation came into force the number of actuarial certificates issued detailing the transfer of assets from one pension fund to another.
§ Miss Widdecombe
Regulation 12 of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991 provides for an actuarial certificate to be given on the transfer of a group of members from one occupational pension scheme to another without their consent. This certificate is to the effect that the members concerned will be no worse off as a result of the transfer and does not detail the transfer of assets.
There is no requirement to notify the Department when such a certificate is given.