§ Mr. MorganTo ask the Secretary of State for Social Security (1) if he will amend company pension fund law so as to oblige companies suspending employer contributions to suspend employee contributions for a parallel period;
(2) if he will make it an offence under company pension fund law to suspend company employer contributions without full consultations with all employees;
(3) what proposals he has to amend company pension fund law to assist the transfer of small company pension funds, in the event of receivership, to larger ongoing pension funds;
(4) if he will make it a criminal offence under company pension fund law to deduct employee pension contributions and fail to transfer them into the pension fund;
(5) what proposals he has for changes in company pension fund law to protect the pension rights of employees, where their contributions were deducted from wages, but not transferred with the pension fund in the event of receivership; and if he will make a statement.
§ Miss WiddecombeMy right hon. Friend the Secretary of State for Social Security announced on 8 June 1992 that a pension law review committee was being set up to carry out a wide ranging review of the framework of law and regulation within which occupational pension schemes operate. Questions relating to securing pension rights are fundamental to that review, and we have no proposals for amendments to legislation that might preempt the committee's report. Protections exist in employment protection legislation for unpaid contributions to occupational pension schemes, up to certain limits, where the employer is insolvent.