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.