§ Mr. Paul Deanasked the Secretary of State for Social Services (1) whether he will ask the Occupational Pensions Board to draw up a code of practice to guide pension trustees in the discharge of their duties;
(2) if he will indicate the subjects on which he is currently seeking the recommendations of the Occupational Pensions Board; and when he expects to receive its recommendations on each subject.
§ Mr. Orme:Any question as to whether the Occupational Pensions Board should be asked to advise upon the need for, or the nature of, a code of practice for pension trustees would have to be considered in the context that published material is available at present and the fact that the board is heavily engaged with the two important subjects on which its advice has been sought. Its consideration of the 57W solvency of occupational pension schemes commenced in February 1977 and we accepted the board's suggestion that this study should be over a period of about five years. The board's consideration of the protection of the rights and expectations of those who leave pension schemes commenced in March 1978. We envisaged that this study would last two or three years.