MILK MARKETING BOARD PENSION SCHEMES

HL Deb 22 February 1994 vol 552 cc49-50WA

Lord Carter

asked Her Majesty's Government:

What effect the delay in the revocation of the Milk Marketing Scheme beyond 1st April 1994 will have on the reorganisation of the Milk Marketing Board Pension Schemes.

The Parliamentary Secretary, Ministry of Agriculture, Fisheries and Food (Earl Howe)

The intended split of the Milk Marketing Board (MMB) Group Pension Fund has now been completed. Dairy Crest members of the Fund have all been transferred to the new Dairy Crest Group Pension Fund.

The MMB's reorganisation scheme, as amended on 9 February, continues to provide for Milk Marque to become the Principal Employer of the MMB Group Pension Fund on vesting day. Genus and the residuary

MMB, would, under the reorganisation scheme, continue to participate in the MMB Group Pension Fund from vesting day.

My right honourable friends the Minister of Agriculture, Fisheries and Food and the Secretary of State for Wales have yet to decide whether to approve the reorganisation scheme under the terms of the Agriculture Act 1993. They will consult on the amended scheme before taking their decision.