§ Mr. David Howellasked the Lord Privy Seal if he will take steps to ensure that hon. Members who have taken their seats in the House following the 1987 general election have the right to choose personal pension schemes in place of the existing parliamentary pension arrangements.
§ Mr. WakehamThe Social Security Act 1986 enables members of an occupational pension scheme to choose an appropriate personal pension scheme rather than remain 863W within their occupational scheme. In accordance with these provisions, all right hon. and hon. Members will have the right to choose a personal pension scheme in place of the parliamentary pension arrangements. As I confirmed in an answer to my hon. Friend the Member for Richmond and Barnes (Mr. Hanley) on 24 July 1987, at column 502, the parliamentary pension scheme, and in particular the anomalies raised by the passage of the Parliamentary and Other Pensions Bill, has been referred to the TSRB. It is my intention that the House will be given an opportunity to consider the TSRB's report before 1 July 1988, so that Members may make an informed decision about their choice of pension scheme.