HC Deb 02 March 1999 vol 326 c642W
Mr. Sayeed

To ask the Chancellor of the Exchequer (1) what assessment he has made of the impact of lifelong individual savings accounts on occupational pension scheme membership; [73549]

(2) what plans he has to simplify the regulatory regime for personal pensions. [73550]

Ms Hewitt

The Treasury's proposed pooled pension investment (ppi) is a contractual wrapper for pensions savings, not a pension scheme in its own right. It could suitably hold units invested in personal pensions, stakeholder pensions, occupational pensions and AVCs, and will allow movement between these types of scheme without the large financial penalties currently incurred. Ppis will add a new transparency and flexibility to the pension market.