HC Deb 28 July 1982 vol 28 c534W
Mr. Dubs

asked the Secretary of State for Industry what is the current deficit on the British Telecom staff superannuation fund; and who will be responsible for it under his privatisation proposals.

Mr. Kenneth Baker

No superannuation fund currently exists solely for British Telecom staff. The deficiency in the fund covering British Telecom and Post Office staff was £2,029 million at the last valuation date of 31 March 1979. I cannot anticipate the legislative provisions that my right hon. Friend will bring before the House, but I can assure the hon. Member that existing pension obligations will be safeguarded.