HC Deb 04 March 2002 vol 381 cc18-9W
25. Mr. Prisk

To ask the Secretary of State for Work and Pensions what targets his Department has to increase private pension provision. [36351]

Mr. McCartney

As I said last November and again in January, we are committed to encouraging private saving to meet the long-term challenges of an aging population. And we remain committed. That is why we are introducing Pension Credit—making sure it pays to save; we have introduced stakeholder pensions—a secure and value for money vehicle to make private provision; we have launched a simplification review—to reduce the layers of regulation that increase costs; we will replace the Minimum Funding Requirement; and we are implementing the recommendations of the Myners Review; and that is why our pensions education campaign is driving home the message that saving now is the best way to guarantee security tomorrow.