t: 020 7219 8155 e: fieldm@parliament.uk

Pension Funds

March 11, 2002

Question written on 11/03/2002

To ask the Chancellor of the Exchequer what discussions he has had with the managers of pension funds about the impact of the new accounting standard FRS 17; and what assessment his Department has made of the effect of FRS 17 on pension funds.

Answered by Ruth Kelly

I meet representations of the pensions industry regularly and discuss a number of issues. However, the application of accounting standards, FRS 17 included, is a matter for the independent Accounting Standards Board.