Below is the text of Mr Major’s written Parliamentary Answer on Personal Pensions on 7th April 1987.
Mr. Gerald Bowden Asked the Secretary of State for Social Services what further proposals he has to encourage the take-up of personal pensions.
Mr. Major The introduction of freestanding additional voluntary contributions in October and the earlier start for personal pensions in January 1988, both announced by the Government last month, have attracted great interest. We will be taking steps later this year to explain the new pensions choices and opportunities that will be available as a result of last year’s Social Security Act. It will be for the personal pensions providers themselves to sell their products.