§ Mr. BAIRDasked the Chancellor of the Exchequer whether, in a case where an employer himself has provided a fund for pensions and other benefits, and the deed regulating the fund gives the employer power to put an end to it, and in that event provides for the appropriation of the balance of the fund, after providing for liabilities, to local charities, and the employer in consequence of the passing of the National Insurance Bill and of his obligations to contribute thereunder, and of the benefits derived by his workmen, intends now to terminate his own fund, there is any provision in the Bill to ensure that the fund will revert to the employer notwithstanding trust for charities?
§ Mr. LLOYD GEORGEThe answer is in the negative. The hon. Member is no doubt aware that employers' funds may become approved societies for the purposes of the Bill and that the employer is allowed to set off against his contributions under the Bill any contributions to benefits, similar to those conferred by the Bill, which he has bound himself to make.