10034
1993-94
68
British Steel Pensions
Frank Cook
1993-11-24
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.
Frank Cook
1993-11-24
Proposed
Stockton North
Bill Michie
1993-11-25
Signed
Sheffield, Heeley
Harry Barnes
1993-11-25
Signed
North East Derbyshire
Bill Etherington
1993-11-25
Signed
Sunderland North
Jimmy Dunnachie
1993-11-25
Signed
Glasgow, Pollok
Jim Dowd
1993-11-25
Signed
Lewisham West
John Cummings
1993-11-25
Signed
Easington
Tom Cox
1993-11-25
Signed
Tooting
Eric Clarke
1993-11-25
Signed
Midlothian
Alan Milburn
1993-11-25
Signed
Darlington
Alan Meale
1993-11-25
Signed
Mansfield
William McKelvey
1993-11-25
Signed
Kilmarnock & Loudoun
John McAllion
1993-11-25
Signed
Dundee East
Eddie Loyden
1993-11-25
Signed
Liverpool, Garston
Ken Livingstone
1993-11-25
Signed
Brent East
Lynne Jones
1993-11-25
Signed
Birmingham, Selly Oak
Barry Jones
1993-11-25
Signed
Alyn & Deeside
Dennis Skinner
1993-11-25
Signed
Bolsover
Alan Simpson
1993-11-25
Signed
Nottingham South
Ernie Ross
1993-11-25
Signed
Dundee West
Michael Connarty
1993-11-29
Signed
Falkirk East
Jack Thompson
1993-11-30
Signed
Wansbeck
Mike Hall
1993-11-30
Signed
Warrington South
Kim Howells
1993-12-01
Signed
Pontypridd
Eric Illsley
1993-12-01
Signed
Barnsley Central
Michael Clapham
1993-12-01
Signed
Barnsley West & Penistone
John Battle
1993-12-02
Signed
Leeds West
Dennis Turner
1993-12-02
Signed
Wolverhampton South East
Denzil Davies
1993-12-06
Signed
Llanelli
Martyn Jones
1993-12-08
Signed
Clwyd South West
Ian McCartney
1993-12-08
Signed
Makerfield
Roland Boyes
1993-12-08
Signed
Houghton and Washington
Stephen Byers
1993-12-09
Signed
Wallsend
Andrew Miller
1993-12-16
Signed
Ellesmere Port & Neston
Mike Gapes
1993-12-17
Signed
Ilford South
Jim Cousins
1994-01-11
Signed
Newcastle upon Tyne Central
Peter Hain
1994-01-20
Signed
Neath
Rachel Squire
1994-01-25
Signed
Dunfermline West
Roger Godsiff
1994-01-26
Signed
Birmingham Small Heath
Doug Hoyle
1994-01-27
Signed
Warrington North
Nigel Jones
1994-02-03
Signed
Cheltenham
Dale Campbell-Savours
1994-02-03
Signed
Workington
Tommy Graham
1994-02-03
Signed
Renfrew West and Inverclyde
Elliot Morley
1994-02-04
Signed
Glanford and Scunthorpe
Robert Wareing
1994-02-16
Signed
Liverpool, West Derby