§ Mr. Alfred Morrisasked the Chancellor of the Exchequer what is his estimate of the net annual investment of pension funds in Government stocks and securities of all kinds; what proportion this represents of their total investments; and by what percentage he expects the investment to increase once the state earnings-related pension scheme has been phased out.
§ Mr. LawsonInformation on pension funds' investments is published in 'Financial Statistics', table 7.14. The level of pension funds' investments in Government stocks and other securities following the phasing-out of the state earnings-related pension scheme will depend on the portfolio behaviour of the funds, on the pattern or yields, on the net increase in the funds available to them, and on the stance of Government policy.