§ Mr. MartlewTo ask the Secretary of State for Work and Pensions what plans he has to amend the FRS17 account measure for company pension schemes; and if he will make a statement. [137121]
§ Malcolm WicksAmendment of FRS17 is not a Government responsibility. It set by the independent Accounting Standards Board for the purpose of providing clarity of liabilities in company accounts. Its full implementation has been deferred awaiting the development of a revised International Accounting Standard, being developed by the independent494W International Accounting Standards Board (IASB). It is anticipated that the revised international standard will be agreed by 2004.
§ Mr. WebbTo ask the Secretary of State for Work and Pensions by which means pensioners who receive their pension by order book and have not replied to his Department's literature about direct payment by April 2005 will receive their payments. [138797]
§ Maria Eagle90 per cent. of pensioners already have an account suitable to receive Direct Payment.
Key figures on the progress of conversion to Direct Payment are available in the Library and are updated every four weeks.
We will be writing to the remaining pensioners over the next year. In addition we will be making further contact with those who have not responded.
However, we have always recognised that there will be some people who are genuinely unable to operate any type of bank account. For those customers an exceptions method of payment will be available. It is likely that the exceptions method of payment will be a cheque based solution and will be available at Post Office branches.