§ Mr. Allen McKayasked the Secretary of State for Transport what progress he is making in drawing up arrangements to protect bus employees' pension rights after the enactment of the Transport Bill.
§ Mr. David MitchellThe accrued pension rights of employees of the National Bus Company will continue to be protected by the assets of the two funds involved. We will wish to ensure that these are adequately funded at the time of privatisation.
We are discussing the arrangements for PTE and district council staff transferring to the new public transport companies with local authority representatives. We are seeking to facilitate a range of options for the new companies including the option of staff remaining in the local government superannuation scheme.