UNIVERSITY OF BIRMINGHAM PENSION AND ASSURANCE SCHEME AND OTHER FINAL SALARY PENSION SCHEMES

Early day motion 899, tabled 26 February 2002 by Lynne Jones (Labour). Signed by 37 members.

That this House notes that Birmingham University is one of the first publicly-funded organisations to propose ending the opportunity for new staff of joining a final salary pensions scheme; regrets this decision but notes that, over the past four years, the number of final salary schemes has fallen by over 15 per cent.; believes that, to avoid future complaints about mis-selling of stakeholder pensions, which employers are obliged to offer as an alternative, employers should be required to explain to their employees the differences in the likely pension on retirement of new schemes compared to existing schemes and any change in employer's contributions between the two; and invites the Government to consider what measures are needed to encourage employers and employees to contribute more to good-quality occupational pension schemes such as that enjoyed by honourable Members.

Signatures by party: Labour 22, Labour/Co-operative 5, Conservative 4, Liberal Democrat 4, Scottish National Party 1, UUP 1.