British Steel Pensions
EDM number 68 in 1993-94, proposed by Frank Cook on 24/11/1993.
That this House notes with considerable dismay that on privatisation British Steel plc. wound up its existing pension scheme with an actuarial surplus of ú592 million and transferred all members, pensioners and beneficiaries of the old scheme into a new one in which scheme members still in employment benefited from substantial improvements in the level of prospective pensions which appear to have been financed out of the aforesaid pension surplus; notes with equal dismay that British Steel plc. has benefited also under the new arrangements as its revised terms allow the company's contribution rate to be reduced, set a cap on the level the company might need to make in the future, and widens its powers to reduce benefits to meet any possible future deficit yet acquire greater powers to cream off future surpluses; concedes that one small gain, to existing pensioners has been a small one-off improvement in widow's benefit; notes that the National Association of British Steel Pensioners have taken legal advice; condemns British Steel plc for instigating new arrangements which appear primarily to have benefited the company and current employees at the expense of all other beneficiaries; supports the National Association in any action that may be brought for breach of trust; and urges Her Majesty's Government to make certain that such perfidy is not permitted with the miners' pensions or the railways scheme, or any other scheme for that matter, ever again.
This motion has been signed by a total of 45 MPs.
| MP | Date | Constituency | Party | Type |
|---|---|---|---|---|
| Frank Cook | 24/11/1993 | Stockton North | Proposed | |
| Alan Milburn | 25/11/1993 | Darlington | Signed | |
| Eric Clarke | 25/11/1993 | Midlothian | Signed | |
| Tom Cox | 25/11/1993 | Tooting | Signed | |
| John Cummings | 25/11/1993 | Easington | Signed | |
| Jim Dowd | 25/11/1993 | Lewisham West | Signed | |
| Jimmy Dunnachie | 25/11/1993 | Glasgow, Pollok | Signed | |
| Bill Etherington | 25/11/1993 | Sunderland North | Signed | |
| Harry Barnes | 25/11/1993 | North East Derbyshire | Signed | |
| Bill Michie | 25/11/1993 | Sheffield, Heeley | Signed | |
| Alan Meale | 25/11/1993 | Mansfield | Signed | |
| William McKelvey | 25/11/1993 | Kilmarnock & Loudoun | Signed | |
| Ernie Ross | 25/11/1993 | Dundee West | Signed | |
| Alan Simpson | 25/11/1993 | Nottingham South | Signed | |
| Dennis Skinner | 25/11/1993 | Bolsover | Signed | |
| Barry Jones | 25/11/1993 | Alyn & Deeside | Signed | |
| Lynne Jones | 25/11/1993 | Birmingham, Selly Oak | Signed | |
| Ken Livingstone | 25/11/1993 | Brent East | Signed | |
| Eddie Loyden | 25/11/1993 | Liverpool, Garston | Signed | |
| John McAllion | 25/11/1993 | Dundee East | Signed | |
| Michael Connarty | 29/11/1993 | Falkirk East | Signed | |
| Jack Thompson | 30/11/1993 | Wansbeck | Signed | |
| Mike Hall | 30/11/1993 | Warrington South | Signed | |
| Kim Howells | 01/12/1993 | Pontypridd | Signed | |
| Eric Illsley | 01/12/1993 | Barnsley Central | Signed | |
| Michael Clapham | 01/12/1993 | Barnsley West & Penistone | Signed | |
| Dennis Turner | 02/12/1993 | Wolverhampton South East | Signed | |
| John Battle | 02/12/1993 | Leeds West | Signed | |
| Denzil Davies | 06/12/1993 | Llanelli | Signed | |
| Martyn Jones | 08/12/1993 | Clwyd South West | Signed | |
| Ian McCartney | 08/12/1993 | Makerfield | Signed | |
| Roland Boyes | 08/12/1993 | Houghton and Washington | Signed | |
| Stephen Byers | 09/12/1993 | Wallsend | Signed | |
| Andrew Miller | 16/12/1993 | Ellesmere Port & Neston | Signed | |
| Mike Gapes | 17/12/1993 | Ilford South | Signed | |
| Jim Cousins | 11/01/1994 | Newcastle upon Tyne Central | Signed | |
| Peter Hain | 20/01/1994 | Neath | Signed | |
| Rachel Squire | 25/01/1994 | Dunfermline West | Signed | |
| Roger Godsiff | 26/01/1994 | Birmingham Small Heath | Signed | |
| Doug Hoyle | 27/01/1994 | Warrington North | Signed | |
| Nigel Jones | 03/02/1994 | Cheltenham | Signed | |
| Dale Campbell-Savours | 03/02/1994 | Workington | Signed | |
| Tommy Graham | 03/02/1994 | Renfrew West and Inverclyde | Signed | |
| Elliot Morley | 04/02/1994 | Glanford and Scunthorpe | Signed | |
| Robert Wareing | 16/02/1994 | Liverpool, West Derby | Signed |
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