EXCLUSION OF PENSIONER MEMBERS OF OCCUPATIONAL PENSION SCHEMES

That this House notes the decision of the Secretary of State for Social Security to exclude pensioner members of schemes from nominating or voting under the draft regulations for the prescribed rules in the selection of member nominated trustees; believes that pensioner involvement in every stage of the nominating and selection process is essential if occupational pensioners are to be reassured of the security of their pension schemes; is concerned that, in the wake of the Maxwell affair, the exclusion of pensioner members of schemes may provide a loophole for delinquent employers to avoid the independent scrutiny of a pensioner trustee; and calls on the Secretary of State for Social Security to reconsider his decision prior to laying the regulations before the House.