§ Mr. FieldTo ask the Secretary of State for Social Security what estimate he has made of the number of occupational pension schemes which have pensioners whose pensions do not meet the guaranteed minimum pension. [158201]
152WInsurance Fund was in paying the guaranteed minimum pensions of members of Maxwell scheme pensions who suffered as a result of the theft of pension funds. [158198]
§ Mr. RookerThe value of State Scheme Premiums payable to restore members' rights in the State Earnings Related Pension Scheme is £126.6 million. The Department initially deferred collecting the premiums, but £23.6 million of the debt has been collected to date.
§ Mr. FieldTo ask the Secretary of State for Social Security if he will list the agreements between his Department and Maxwell pension schemes for the recovery of national insurance loans and, in each case,(a) what the agreed sum to be recovered is, (b) how much has been recovered to date and (c) what the deadline for repayment is. [158438]
§ Mr. RookerThe agreement reached with all of the Maxwell pension schemes in the early 1990s was that no scheme would be required to pay any State Scheme Premiums (SSPs) until members' pensions have been secured and there were residual funds available to meet these liabilities.
Information on the agreed sum to be recovered and how much has been recovered to date is in the table.
No deadlines have been set for collecting the outstanding premiums for schemes, where they have become payable.
§ Mr. RookerOf the 120,000 occupational pension schemes, around 7,000 are required to pay pensions at least to the value of the Guaranteed Minimum Pension in respect of service between April 1978 and April 1997.