British Gas Pensions

EDM number 1171 in 2007-08, proposed by Tony Lloyd on 12/03/2008.
Categorised under the topics of Oil, petrol and natural gas, Pensions and Utilities.

That this House notes the recent announcement by Centrica/British Gas of record profits; is aware that the shareholders of Centrica have benefited hugely with a 22 per cent. increase in the dividend, which is exactly the same rise as the rise in British Gas bills; is concerned about British Gas's statement that the soaring wholesale cost of gas will push up domestic prices by 22 per cent. next month; has sympathy with the concerns of the GMB union about the treatment of the British Gas workforce who are facing an erosion of their pension conditions at the same time as the announcement of record profits; finds it extremely concerning that the company is seeking to change the trust arrangements for members of the Centrica Pension Scheme which will lessen the protection that members of the scheme have to prevent the company from reducing benefits; asks Centrica to clarify its intentions to close the Centrica Pension Scheme and the Centrica Retirement Income Section scheme to new employees; and further asks British Gas to clarify how exactly it intends to consult with pension scheme members on proposed changes to pension arrangements.

This motion has been signed by a total of 67 MPs, 2 of these signatures have been withdrawn.