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WRITTEN QUESTION TO THE CHIEF MINISTER BY DEPUTY G.P. SOUTHERN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY, 5th DECEMBER 2006
Question
Following his public statement on 26th November 2006 that he believed that Jersey needed a pensions regulator would the Chief Minister state why he believes this to be so, and explain why greater priority has not been given to this issue in the Strategic Plan or the Annual Business Plan? What action, if any, will the Chief Minister take to promote this issue in the Council of Ministers' agenda and by when can members expect to see some concrete progress?
Answer
I believe that there would be merit in appointing a pensions regulator to provide further protection to the beneficiaries of pension schemes. However, I also accept that this proposal needs to be considered in the context of a general review of pension provision.
The States have already agreed, in approving the Strategic Plan 2006-2011, that the Social Security Department will prepare and start to introduce a co-ordinated plan, including a review of pension provision, to meet the challenges and opportunities presented by an ageing population by 2010.'
I expect that plan to include recommendations on the appointment of a pension regulator.