Occupational Pensions

Work and Pensions written question – answered on 13th March 2007.

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Photo of Tony Baldry Tony Baldry Conservative, Banbury

To ask the Secretary of State for Work and Pensions what estimate he has made of the (a) one-off and (b) recurring cost of implementing the Occupational Pension Schemes (Minimum Funding Requirement and Miscellaneous Amendments) Regulations 2002 to (i) businesses and (ii) the regulators.

Photo of James Purnell James Purnell Minister of State (Pensions Reform), Department for Work and Pensions

The Occupational Pension Schemes (Minimum Funding Requirement and Miscellaneous Amendments) Regulations 2002 were accompanied by a regulatory impact assessment (RIA), a copy of which is available in the Library. The RIA included an assessment of the impact of the regulations on business, although this will have been affected by the subsequent replacement of the minimum funding requirement by new scheme funding requirements from December 2005. The cost to the Occupational Pensions Regulatory Authority (OPRA) of implementing the regulations, if any, is not separately identifiable.

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