§ 25. Mr. Jim CunninghamTo ask the Secretary of State for Social Security what assessment he has made of the potential cost benefits to those working in industries with high labour turnover rates of using the new stakeholder pension. [84016]
§ Mr. TimmsOur proposals for stakeholder pension schemes establish a framework which will ensure that schemes reflect the needs of those who change jobs frequently. Members will be able to ensure that members can stop and restart contributions and, if necessary, transfer their funds to another scheme, without penalty.
§ Mr. WebbTo ask the Secretary of State for Social Security what rules will govern the use of funds which have been transferred into a stakeholder pension from a personal pension, with particular reference to (i) the use of the fund for a tax-free lump sum and (ii) the nature of the annuity which may be bought with the fund. [84548]
§ Mr. TimmsThe rules applying to transfers into stakeholder pension schemes are currently being considered in the light of responses to the Green Paper "Partnership in Pensions".