Written question asked by Edward O'Hara (Labour) on Wednesday, 20 October 1999, in the House of Commons. It was due for an answer on Monday, 25 October 1999. It was answered by Lord Rooker (Labour) on Monday, 25 October 1999 on behalf of the Department of Social Security.

Dept of Social Security

Question: To ask the Secretary of State for Social Security, what plans he has to amend the Pensions Act 1995 to require occupational pension funds to nominate a pensioner as a member trustee. - Includes ref to consultation document 'Strengthening the Pensions Framework'.

Answer: Mr. O'Hara: To ask the Secretary of State for Social Security what plans he has to amend the Pensions Act 1995 to require occupational pension funds to nominate a pensioner as a member trustee. [95660] Mr. Rooker: We believe that member trustees add value to pension schemes, and want to increase their coverage. The consultation document, "Strengthening the Pensions Framework", which was issued in December 1998, made a number of proposals on member-nominated trustees, including a proposal that large mature schemes should be required to reserve a place on the trustee board for a pensioner member. Responses showed widespread support for the principle of member trustees, but concern about some of the practical implications. We have been working closely with the pensions industry and other representative bodies to develop revised proposals. A further consultation document was issued on 7 October 1999. Our priority is to ensure that schemes have member-nominated trustees, and that members have a fair say in determining the arrangements for appointing them. The revised proposals do not require schemes to have a pensioner trustee, but they do ensure that pensioners are given a fair say in the procedures.

Secondary information