HC Deb 15 October 2001 vol 372 cc845-6W
Pete Wishart

To ask the Chancellor of the Exchequer (1) what representations he received from the Scottish Executive prior to the decision being taken to transfer moneys from the Scottish Bus Group pension fund to the Exchequer; and if he will make a statement; [7074]

(2) regarding the decision to transfer moneys from the Scottish Bus Group pension fund to the Exchequer. [7073]

Mr. Andrew Smith

Following discussion between the Scottish Executive and the Treasury, the Scottish Executive announced in December 2000 that agreement had been reached with the Treasury that when the Scottish Transport Group pension schemes are wound up the Scottish Executive will make ex gratia payments to members. A total of around £100 million is expected to be available for distribution.

Pete Wishart

To ask the Chancellor of the Exchequer if he will ensure Scottish Bus Group pension fund holders affected by the decision to transfer moneys from the Scottish Bus Group pension fund surplus to the Exchequer are compensated to the value of their policy on maturity; and if he will make a statement. [7076]

Mr. Andrew Smith

The Scottish Executive announced in December 2000 that they will make ex gratia payments to scheme members. A total of around £100 million is expected to be available for distribution. The payments are in addition to members' accrued pension rights.

Pete Wishart

To ask the Chancellor of the Exchequer for what reason the National Bus Group Pension Fund has been treated differently from the Scottish Bus Group pension fund; what his policy is on payment of additional compensation to Scottish Bus Group pensioners; and if he will make a statement. [7075]

Mr. Andrew Smith

The circumstances of the National Bus Group pension fund are not the same as those of the Scottish Transport Group pension fund. However, while there is no legal entitlement for STG pension scheme members to share in the pension surplus at wind-up, the Scottish Executive have announced that they will make ex gratia payments to members, to achieve an outcome broadly comparable to that secured in England.