§ Mr. Chopeasked the Secretary of State for Trade and Industry what changes have been proposed to him for British Shipbuilders pension arrangements.
§ Mr. Peter MorrisonBritish Shipbuilders has made its pension arrangements open to any company in the shipbuilding industries. Accordingly, it has appointed Hadrian Trustees Ltd. as the independent trustee of its scheme, renamed the shipbuilding industries pension scheme. The Secretary of State has given his consent to British Shipbuilders to transfer the share capital of British Shipbuilders Pension Trustee Ltd. to Hadrian Trustees Ltd. This change will not affect the pension rights of British Shipbuilders' pensioners or continuing employees or the rights of the employees of those privatised yards that opt to remain in the scheme.