Below is the text of Mr Major’s written Parliamentary Answer on Occupational Pensions on 12th February 1986.
Mr. Powley Asked the Secretary of State for Social Services what steps he has taken to inform members of occupational pension schemes of their new rights under the Social Security Act 1985.
Mr. Major Advertisements advising employees who are changing jobs that they now have the right to transfer their accrued pension benefits to a new employer’s scheme, or to use them to buy an insurance policy or annuity to provide themselves with a pension, were placed in the national press from 12 January. An information sheet providing employees with further information which is available from my Department has attracted considerable interest and we have so far issued some 12,000 copies. I am placing a copy of this information sheet in the Library.