§ Mr. TrendTo ask the Secretary of State for Social Security if he will publish the results of the consultation exercise on the possible introduction of a minimum solvency requirement for pension schemes.
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§ Mr. HagueWe received completed questionnaires on nearly 500 schemes showing their on-going funding level and solvency level calculated using a valuation method on the lines of that proposed by the Pension Law Review Committee. Those figures were compared with those obtained using a modified valuation method developed in the light of concerns expressed about the working of the original proposal. The findings will be of great help in the further development of an appropriate minimum solvency requirement and I am grateful to all who participated in the exercise. Results of the exercise are published today. Copies have been placed in the Library.