§ Mr. Dubsasked 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 BakerNo 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.