§ Mr. Sternasked the Chancellor of the Exchequer what assessment he has made of changes in private pension provision as a result of proposals in the Finance Bill.
§ Mr. Norman LamontThis will depend on how the trustees of over-funded schemes decide to deal with excessive surpluses. It is too early to judge to what extent trustees will seek to deal with excessive surpluses by improving benefits, rather than reducing contributions or making a payment to the employer.