§ John MannTo ask the Secretary of State for Trade and Industry what plans she has to review the arrangements for apportioning surpluses in the pre-privatisation pension schemes for the former employees of British Coal. [19341]
§ Mr. Wilson[holding answer 10 December 2001]: The agreement that was reached in 1994 with the Trustees of pension schemes for former British Coal staff and employees has supported the schemes' investment strategies, and has meant that members' have been awarded bonuses totalling around 30 per cent. These bonus awards are additional to the inflation linked increases applied to pensions each year to maintain their real value. The Government regularly review all information that they receive on these issues, and expect to be able to make a further announcement shortly.