Written question asked by Ben Chapman (Labour) on Monday, 23 April 2001, in the House of Commons. It was due for an answer on Thursday, 26 April 2001. It was answered by Lord Rooker (Labour) on Thursday, 26 April 2001 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 ensure that members of pension trusts have a right to be consulted before (a) trusts are restructured and (b) members are transferred to other schemes.

Answer: Mr. Ben Chapman: To ask the Secretary of State for Social Security what plans he has to ensure that members of pension trusts have a right to be consulted before (a) trusts are restructured and (b) members are transferred to other schemes. [159053] Mr. Rooker: Employers who provide occupational pension schemes do so voluntarily and, ultimately, they decide the nature of the scheme and its benefit structure. Trustees are required to provide extensive information to members about the scheme and their rights to pension benefits. Generally, members must consent to a transfer of their accrued pension rights to another pension scheme. When employers are taken over, merge, or restructure their pension provision a consequent bulk transfer of members' accrued rights can be made without consent, provided that an actuary certifies that the rights to be acquired in the receiving scheme are broadly no less favourable than the rights to be transferred.

Secondary information