HC Deb 20 February 1992 vol 204 cc278-80W
Mr. Frank Field

To ask the Secretary of State for Social Security on how many occasions the Occupational Pension Board has used the powers under the Social Security Pensions Act 1975 to prevent breaches in the conditions upon which a contracting out certificate has been granted.

Miss Widdecombe

[holding answer 6 February 1992]: I understand from the Occupational Pensions Board that the number of individual contracting out certificates cancelled because of a salary-related occupational pension scheme's failure to meet the financial requirements set by the board has been as follows:

Number
1981 3
1982 12
1983 19
1984 28
1985 30
1986 29
1987 23
1988 18
1989 107
1990 81
1991 100
1 1992 Nil

1 To date.

Note: The upturn since 1989 in the main reflects problems experienced in one life office responsible for a large number of small schemes.

Mr. Frank Field

To ask the Secretary of State for Social Security if he will list which pension issues he has referred to the Occupational Pensions Board for its consideration; and if he will list the reports the Occupational Pensions Board has made in respect to each of these references.

Miss Widdecombe

[holding answer 7 February 1992]: In fulfilling specific remits from successive Secretaries of State under section 66 of the Social Security Act 1973, the Occupational Pensions Board has considered and reported on the following issues:

Solvency, Disclosure of Information and Member Participation in Occupational Pension Schemes

(Cmnd. 5904: February 1975); Equal Status for Men and Women in Occupational Pension Schemes

(Cmnd. 6599: August 1976); Occupational Pension Scheme Cover for Disabled People

(Cmnd. 6849: June 1977); Improved Protection for the Occupational Pension Rights and Expectations of early leavers

(Cmnd. 8271: June 1981); Greater Security for the Rights and Expectations of Members of Occupational Pension Schemes

(Cmnd. 8649: October 1982); Protecting Pensions: Safeguarding Benefits in a Changing Environment

(Cm. 573: February 1989).

The terms of reference for each remit are in each of the reports, copies of which are available in the Library.

In addition, the board has reported on numerous sets of draft regulations referred to it for consideration.

Mr. Allen

To ask the Secretary of State for Social Security if he will list the company in each case where he has used his powers since 1979 to provide guaranteed minimum pensions after insolvency; and what was(a) the total cost and (b) the average remaining pension shortfall in each case.

Miss Widdecombe

[holding answer 11 February 1992]: The information is not available in the form requested because the Department deals with pension schemes rather than with the associated companies. Records are not, therefore, maintained of the companies concerned. Similarly, the remaining pension shortfall after the members' rights in SERPS have been restored is not known. The number of occupational pension schemes winding up, for whatever reason, with insufficient funds to buy the members back into SERPS, the amounts for buying back into SERPS that have been treated as paid and the amounts of those payments subsequently recovered are in the table. Separate information in respect of cases where an associated employer has become insolvent is not collected.

Year Number of schemes involved Amount treated as paid (£000) Amount recovered (£000)
1978–79 1 1 1
1979–80 1 1 1
1980–81 9 8 Nil
1981–82 Nil Nil Nil
1982–83 6 8 5

Year Number of schemes involved Amount treated as paid (£000) Amount recovered (£000)
1983–84 38 162 25
1984–85 55 48 18
1985–86 60 75 39
1986–87 119 224 113
1987–88 97 105 28
1988–89 74 122 39
1989–90 63 153 91
1990–91 49 96 55
21991–92 47 150 33
1 Information not available.
2 To date.