§ Mrs. Currieasked the Secretary of State for Social Services what measures he is taking in his plans for portable pensions to ensure that compensation is provided for members of personal pension schemes in the event of negligence, fraud or theft.
§ Mr. FowlerI have asked the Occupational Pensions Board for their advice on this question. The terms of the remit are
To consider and advise on the requirements to be met by personal pensions and money-purchase occupational pension schemes for providing compensation in the event of fraud, theft or negligence, in the light of the Government's decision that, in principle, everybody with a personal pension should be at least as well protected as someone with an insurance policy covered by the Policyholders Protection Act, and in the light of the desirability that such requirements should be kept as simple and flexible as possible".