§ Mr. ClaphamTo ask the President of the Board of Trade what is the latest valuation of the(a) mineworkers' pension scheme and (b) the staff superannuation fund; how many trustees of the scheme there are including the chairperson; who is the sponsoring body of each trustee; and what is the annual salary that has been proposed or agreed for the scheme's trustee's. [6741]
§ Mr. PageThe market values of the mineworkers' pension scheme and the staff superannuation scheme funds at the end of October 1995 were £8.52 billion and £8.87 billion respectively.
The current trustees of the mineworkers' pension scheme are:
- M. Butler (Chairman)
- P. Keenan
- S. Gleig
- G. Ferguson
- M. Atkinson
- G. Bolton
- N. Greatrex
- J. Stones
- J. Wills
- T. Gay
Mr. Butler, Mr. Keenan, Mrs. Gleig, Mr. Ferguson and Mr. Atkinson have been selected and appointed by the Secretary of State, in accordance with the provisions of the appendix to the articles of the trustee company. These provisions also allow for the phased replacement of union-appointed trustees by elected pensioner representatives. Mr. Bolton and Mr. Greatrex, both of whom were previously union-appointed representatives, were elected as pensioner representatives in their respective constituencies from 1 October 1995. The election process for the remaining three constituencies begins this month with the three further elected trustees due to take office from 1 April 1996. No remuneration is currently paid to MPS trustees, although I understand the question of modest remuneration remains under consideration.
The trustees of the staff superannuation scheme, their sponsors and remuneration, remain as set out in my answer to the hon. Member for the City of Durham (Mr. Steinberg) on 28 November 1995, Official Report, column 546.
§ Mr. ClaphamTo ask the President of the Board of Trade what is the annual salary that was(a) proposed and (b) agreed for the (i) chairperson of the mineworkers' pension scheme and (ii) the chairperson of the staff superannuation fund; and what salary was paid to the previous chairperson of each fund. [6742]
§ Mr. PageUnder the rules of the staff superannuation scheme the remuneration of the trustees may be determined by me after consultation with them. The salary of the current chairman was accordingly determined by me at £15,000 per annum. Her predecessor received no remuneration.
1258WThe rules of the mineworkers' pension scheme do not currently allow remuneration to be paid to the chairman or to the trustees.