§ Mr. WillettsTo ask the Secretary of State for Work and Pensions how many companies have been(a) investigated and (b) fined by the Occupational Pensions Regulatory Authority for breaking the rules governing stakeholder pensions. [46474]
§ Mr. McCartneyStakeholder pension schemes started in April 2001. Up to 1 March 2002, the Occupational Pensions Regulatory Authority (Opra) has investigated 299 cases where an employer has failed to designate a stakeholder scheme and 144 cases of employers failing to pay contributions on time.
1111WNo companies have as yet been fined. Opra's focus is on getting employers to comply. Compliance has been achieved in 219 of the cases investigated. No breach was found to have occurred in 88 cases. The remainder are under continuing investigation.