§ Mrs. ClwydTo ask the President of the Board of Trade what plans he has to ensure that British Coal distributes the coal industry industrial death and retirement funds among the people who contributed to it, or to their dependants. [37769]
§ Mr. PageThe operation of the industrial death and retirement scheme is a matter for British Coal. However, I understand that the scheme was not financed from a 551W conventional fund with separate assets. If it had been, British Coal's liabilities would have been capped in accord with the total amount of contributions paid. Instead, in return for contributions from members and notional matching contributions from British Coal itself, the corporation will continue to meet all entitlements under the scheme. British Coal confirms that all contributors who qualify for benefits will receive them. My Department will take over this responsibility when the liabilities associated with this scheme transfer at the of 1997.
§ Mrs. ClwydTo ask the President of the Board of Trade what safeguards exist to protect funds and schemes similar to the coal industry industrial death and retirement fund in the privatised coal industry. [37770]
§ Mr. PageThe industrial death and retirement scheme did not transfer to successor coal companies on privatisation. Insurance and retirement arrangements in respect of service with the newly privatised industry are matters for the new owners.
§ Mrs. ClwydTo ask the President of the Board of Trade (1) what benefits were being paid out from the coal industry industrial death and retirement fund on 1 January; [37763]
(2) what was the value of the coal industry industrial death and retirement fund on 1 January 1993, 1 January 1994, 1 January 1995 and its projected value on 1 January 1996; [37765]
(3) what benefits are currently being paid from the coal industry industrial death and retirement fund; [37764]
(4) how many people were paying into the coal industry industrial death and retirement fund on 1 January; [37762]
(5) what was the initial payment made to the industrial death and retirement fund at its inception, and by whom. [37766]
§ Mr. PageThese are matters for British Coal. I am asking the chairman to write to the hon. Member.
§ Mrs. ClwydTo ask the President of the Board of Trade (1) in what circumstances the British Coal Corporation may appropriate the assets of the industrial death and retirement fund; [37767]
(2) what legal provisions govern the distribution of the assets of funds of the nature of the coal industry industrial death and disablement fund when they are wound up. [37768]
§ Mr. PageI understand that the industrial death and retirement scheme ceased to accept further contributions from members on 6 January 1995, but as it was not wound up the question of distribution of funds did not arise. As the arrangements constituted a scheme, there was no fund and thus no assets.