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1979-1987 : Mr Major’s Written Parliamentary Answer on Friendly Societies (Personal Pensions)

Below is the text of Mr Major's written Parliamentary Answer on Friendly Societies (Personal Pensions) on 1st July 1986.


Mr. Higgins Asked the Secretary of State for Social Services whether it is his intention to seek to restrict friendly societies from writing personal pension business.

Mr. Major In principle, we see no reason to prevent registered friendly societies from providing personal pensions contracted-out from the state earnings-related pension scheme, provided that the schemes they offer meet the investor protection standards which will apply to all such schemes.