HC Deb 07 December 1988 vol 143 c189W
Mr. Amos

To ask the Secretary of State for Foreign and Commonwealth Affairs if he will announce the details of the agreement reached on 1 December with the Chief Minister of Gibraltar on the future of the Gibraltar social insurance fund.

Mrs. Chalker

Her Majesty's Government and the Government of Gibraltar have established that the state of the social insurance fund is such that it is no longer financially viable. Payments will continue to all beneficiaries at existing cash levels for a further five years. At the end of that time, the fund will be dissolved, and the balance paid out to all past and present contributors, taking account of their accrued rights. Under these arrangements, all beneficiaries will be treated in an equitable and non-discriminatory manner. Her Majesty's Government have agreed to make available the necessary funds to make up any shortfall in the SIF for the duration of these arrangements. The details of dissolution and distribution will now be worked out on the basis of a thorough analysis of the fund's contribution records.

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