§ 32. Mr. HealdTo ask the Secretary of State for Social Security what steps she has taken to support and strengthen the framework for occupational pensions. [29108]
§ Mr. DenhamWe fully recognise and support the important role that occupational pension schemes have and play.
As we made clear when we launched our wide ranging Pensions Review on the 17 July 1997, we will also build on the good quality second pensions that many employees enjoy by supporting and strengthening the existing framework of occupational pension provision where that is necessary. That is why we are consulting those who run and advise pension schemes about the effectiveness of the provisions introduced by the Pensions Act 1995. We will then consider what can be done to remove unnecessary burdens and complexity whilst making sure that the security of members rights is paramount. And we are working on our own plans for a Quality Award scheme to 119W reward high standards and set a benchmark against which employers, employees and trustees could measure their own scheme.
The Pensions Review produced over 2,000 responses which we are currently considering. We have also made clear our intention to introduce stakeholder pensions, which will extend the opportunity for good funded pension provision to many people who cannot join an occupational pension scheme.