HC Deb 05 May 1969 vol 783 cc36-7W
Sir B. Rhys Williams

asked the Chancellor of the Exchequer in what circumstances his Department is prepared to approve the transfer of pension rights between occupational pension schemes.

Mr. Harold Lever

I assume the hon. Member is referring to the approval of pension schemes by the Inland Revenue. The general rule is that transfer payments are allowed freely between schemes fully approved under Section 379 of the Income Tax Act, 1952, and, subject to some tax liability, between schemes fully and partially approved under that Section.

Sir B. Rhys Williams

asked the Chancellor of the Exchequer what use he is making of the discretionary powers vested in his department in regard to the regulation of occupational pension schemes to stimulate the growth of private saving through such schemes.

Mr. Harold Lever

The Inland Revenue has always made full use of its discretionary powers to approve schemes within the established pattern.

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