HC Deb 25 February 2003 vol 400 cc489-90W
Mr. Willetts

To ask the Secretary of State for Work and Pensions what his latest estimate is of the cost to employers of following the full buy-out option contained in paragraph G33 of "Simplicity security and choice" technical paper published on 17 December 2002, if all pension schemes were to wind up. [96608]

Mr. McCartney

Within the Green Paper, "Simplicity, security and choice: working and saving for retirement" (Cm 5677), we are seeking views on two options for strengthening protection for members whose solvent employer decides to wind up their pension scheme. These are the "full buy-out" option and the "partial buy-out" option.

The Partial Regulatory Impact Assessment in "Simplicity, security and choice" technical paper contains the latest estimate of costs for these options, a copy of which is available in the Library of the House.