§ Mr. Pardoeasked the Secretary of State for Social Services if he is satisfied that private sector pension funds will be able to meet the inflation-proofing provisions of the Social Security Pensions Act 1975.
§ Mr. OrmeI have not received any representations on this matter from those concerned with occupational pensions schemes and, in view of the substantial concessions made in 1975 during the passage of the pensions legislation, I have no reason to believe that private sector employers with contracted-out schemes will not be able to meet their inflation-proofing liabilities.