§ Mr. Patrick Jenkinasked the Secretary of State for Social Services how many inquiries have so far been received by the Occupational Pensions Board from companies wishing to contract out under the Pensions Act 1975.
§ Mr. EnnalsThe Occupational Pensions Board informs me that since 1st July 1976 its officials have received on this subject some 200 letters about particular occupational pensions schemes and 150 general inquiries from life offices and others acting as consultants to more than one scheme, from whom there have also been telephone calls at a current rate of about 100 a month. Many inquiries have also been answered in the course of other business.
§ Mr. Patrick Jenkinasked the Secretary of State for Social Services what steps he is taking to encourage companies to make inquiries about contracting-out under the Pensions Act 1975 as soon as possible.
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§ Mr. EnnalsMore than 65,000 leaflets were issued in March 1976 to employers who were contracted out of the former graduated pension scheme. Since then a further 100,000 have been requested by employers and others. My Department receives letters and telephone enquiries daily about contracting out from employers, trade union representatives and pensions advisers. In these contacts and also in talks and discussions with representative groups of employers and trade unions every opportunity is taken to emphasise the urgency of initiating the necessary procedures and submitting early elections to the Occupational Pensions Board. The board has itself been taking active steps to encourage early action by employers.