§ Mr. Tim Smithasked the Secretary of State for Social Services whether he intends to introduce legislation for the participation of members in occupational pension schemes or whether he intends to invite the Occupational Pensions Board to prepare a code of good practice.
§ Mr. OrmeThe Government remain committed to the introduction of legislation to further member participation in the management of occupational pension schemes through recognised independent trade unions. There are no plans to invite the Occupational Pensions Board to prepare a code of good practice.
§ Mr. Tim Smithasked the Secretary of State for Social Services how many companies with occupational pension schemes have arrangements for participation of members in the management of the schemes; and whether information is available on the size of the schemes concerned and the types of arrangements made.
§ Mr. OrmeThe Government Actuary's recent survey indicates that 8,500 occupational pension schemes with more than 25 members have arrangements for some form of participation by members on management committees or boards of trustees. Experience suggests that arrangements vary widely and that the participation is not qualitatively consistent. In some cases employers appoint a single employee to an advisory committee. In 705W others, 50 per cent. of the trustees are nominated through recognised independent trade unions.