§ Mr. CatonTo ask the Secretary of State for Work and Pensions (1) what plans he has to reform pension law to ensure that pensioners have direct representation on boards of trustees; [69997]
(2) what plans he has to reform pension law to require boards of trustees to include employers, employed members and pensioners on an equal basis. [69784]
§ Mr. McCartneyWe have no such plans.
The role of a trustee is not to be a representative of a particular group or category of member. All trustees have the same responsibilities regardless of how they come to the role, and the most important thing is that they have the skills and knowledge to fulfil those responsibilities. It would be inappropriate to expect certain trustees to have responsibilities relating only to certain categories of member.
521WWe do, however, recognise that having ordinary scheme members on trustee boards helps to provide a balance of skills and experience and helps promote member confidence, which is why we are working toward ensuring that every scheme has at least one third member-nominated trustees.
§ Mr. CatonTo ask the Secretary of State for Work and Pensions if he will amend the law relating to the management of actuarial surpluses of pension funds to ensure that pensioners are not marginalised. [69998]
§ Mr. McCartneyThere are no plans to make changes in this area.
§ Mr. CatonTo ask the Secretary of State for Work and Pensions what plans he has to clarify the law regarding ownership of pension funds to establish pension funds as the property of the pensioners. [69999]
§ Mr. McCartneyScheme assets are owned by the scheme, and managed by the scheme trustees. Scheme members have no legal rights to the assets, but have a right to benefits as laid down by the trust deed. We have no plans to change the law.