HC Deb 22 July 1999 vol 335 cc575-6W
Mr. Jim Cunningham

To ask the Secretary of State for Social Security what steps he will take to promote higher standards in occupational pension schemes following responses to the consultation on proposals for a Quality in Pensions accreditation scheme. [93102]

Mr. Timms

We have discussed with the pensions industry how best to develop improved standards in pensions. We have concluded we should develop best practice guidelines for occupational schemes that would be made widely available. I am pleased to announce the formation of a working group to take this work forward. The names of the working group members are as given. We have also published today a response to the consultation exercise which provides an analysis of the consultation responses and sets out our proposals for developing the best practice guidelines.

Best Practice Guidelines Working Group:

In addition to the Government Departments that are represented the external members are:

  • Joanne Hindle—Association of British Insurers
  • Derek Sloan—Association of Pension Lawyers
  • Susan Anderson—Confederation of British Industry
  • David Trevor—National Association of Pension Funds
  • Rachel Low—Occupational Pensions Regulatory Authority
  • Ian Eggleden—Pensions Management Institute
  • Peter Crutchett—Society of Pension Consultants
  • Joanne Segars—Trades Union Congress.

The group will also include a representative from the public service schemes and will be chaired and supported by DSS officials.

Mr. Jim Cunningham

To ask the Secretary of State for Social Security how he proposes to ensure that combined pension forecasts are introduced effectively and with the minimum additional burden on employers and pension providers. [93103]

Mr. Timms

I am pleased to announce the formation of a Pension Forecasting Advisory Group which will include representatives from employers and scheme providers. The group will consider how our proposals for introducing combined forecasts might best be implemented to achieve wide and effective adoption. It will advise on what supporting information and facilities need to be provided to ensure that individuals make the best use of the new information. In addition to the Government Departments that are represented the external members are:

  • Tony Tollerton—Association of British Insurers
  • Susan Anderson—Confederation of British Industry
  • Ben Jupp—DEMOS
  • Ralph Turner—EMAP
  • Keith Matthews—Financial Services Authority
  • George Russell—Government Actuary's Department
  • Ray Martin—National Association of Pension Funds
  • Chris Armitage—Unigate.

There will also be a representative from the public service schemes and members from the Inland Revenue and DSS who will chair and support the group.