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1005842

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, how much money the Government has received from the Mineworkers' Pension Scheme (a) since 1994 and (b) in each of the last three financial years for which data is available.
	tabling member constituency	Ashfield
	tabling member printed	Gloria De Piero
	uin	190420
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Since 1994, the Government has received £4,438.1m from the Mineworkers’ Pension Scheme. £3,127m of that is the Guarantor’s share of surpluses and £1,310.2m has been returned from the Investment Reserve. Receipts in each of the last three years were:</p><p> </p><p>2016/7: £51m</p><p>2017/8: £51m</p><p>2018/9: £617.2m (£475m of which is from the Investment Reserve)</p><p> </p><p>The Government guarantee has enabled an investment strategy that has resulted in scheme members receiving payments 33% higher than they would have been if they received only their actual earned pension up to privatisation.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 15/11/2018 16:38:30 answering member 3974 label Biography information for Claire Perry
	tabling member	3915 label Biography information for Gloria De Piero

1005843

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the Government has made direct payments to the Mineworkers' Pension Scheme under the guarantee arrangements.
	tabling member constituency	Ashfield
	tabling member printed	Gloria De Piero
	uin	190421
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>No payments have been required to date.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 15/11/2018 16:38:36 answering member 3974 label Biography information for Claire Perry
	tabling member	3915 label Biography information for Gloria De Piero

1005844

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what sums are held in the investment reserve fund for the Mineworkers' Pension Scheme.
	tabling member constituency	Ashfield
	tabling member printed	Gloria De Piero
	uin	190422
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>At the valuation date, 30 September 2017, the assets of the Investment Reserve were £1,488m. Since then, a payment of £475m has been made to the Guarantor. The Government Actuary decided that this payment should be made, noting that the remaining buffer is likely to continue to provide significant protection.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 15/11/2018 16:38:48 answering member 3974 label Biography information for Claire Perry
	tabling member	3915 label Biography information for Gloria De Piero

1005846

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the sums that the Government will receive from the Mineworkers' Pension Scheme in (a) 2018-19, (b) 2019-20 and (c) 2020-21.
	tabling member constituency	Ashfield
	tabling member printed	Gloria De Piero
	uin	190423
	answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Under the terms of the scheme, the Government will receive its share of scheme surpluses. For each of the next 3 years, that share is £142.4m.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 15/11/2018 16:38:54 answering member 3974 label Biography information for Claire Perry
	tabling member	3915 label Biography information for Gloria De Piero

999149

	registered interest
	date	31/10/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 25 July 2018 to Question 164474 on the Mineworkers’ Pension Scheme, what discussions his Department has had with the trustees of that scheme; and if he will make a statement.
	tabling member constituency	Mansfield
	tabling member printed	Ben Bradley
	uin	186447
	answer	answer is ministerial correction date of answer 12/11/2018 answer text <p>Those discussions are ongoing. I would be happy to update my hon. Friend once a conclusion has been reached.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 12/11/2018 17:31:47 answering member 3974 label Biography information for Claire Perry
	tabling member	4663 label Biography information for Ben Bradley

999232

	registered interest
	date	31/10/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will publish the annual surpluses to Government from the Mineworkers Pension Fund in each year since 1994.
	tabling member constituency	Bassetlaw
	tabling member printed	John Mann
	uin	186222
	answer	answer is ministerial correction date of answer 12/11/2018 answer text <p>The sums the Government has received each year from its share of scheme surpluses are set out below. There were no receipts before 1998. Surplus shares are calculated at three-yearly valuations and paid in ten annual instalments. More information is available in a <a href="https://researchbriefings.parliament.uk/ResearchBriefing/Summary/SN01189#fullreport" target="_blank">House of Commons Research Briefing</a>. The Government guarantee has enabled an investment strategy that has resulted in scheme members receiving payments 33% higher than they would have been if they received only their actual earned pension up to privatisation.</p><p> </p><table><tbody><tr><td><p>Year[1]</p></td><td><p>Share of surplus (£m)</p></td><td><p>Year</p></td><td><p>Share of surplus (£m)</p></td></tr><tr><td><p>1998</p></td><td><p>113</p></td><td><p>2009</p></td><td><p>146</p></td></tr><tr><td><p>1999</p></td><td><p>113</p></td><td><p>2010</p></td><td><p>145</p></td></tr><tr><td><p>2000</p></td><td><p>113</p></td><td><p>2011</p></td><td><p>331</p></td></tr><tr><td><p>2001</p></td><td><p>196</p></td><td><p>2012</p></td><td><p>31</p></td></tr><tr><td><p>2002</p></td><td><p>196</p></td><td><p>2013</p></td><td><p>50</p></td></tr><tr><td><p>2003</p></td><td><p>196</p></td><td><p>2014</p></td><td><p>50</p></td></tr><tr><td><p>2004</p></td><td><p>175</p></td><td><p>2015</p></td><td><p>92.1</p></td></tr><tr><td><p>2005</p></td><td><p>175</p></td><td><p>2016</p></td><td><p>113.4</p></td></tr><tr><td><p>2006</p></td><td><p>175</p></td><td><p>2017</p></td><td><p>51</p></td></tr><tr><td><p>2007</p></td><td><p>327</p></td><td><p>2018</p></td><td><p>51</p></td></tr><tr><td><p>2008</p></td><td><p>146</p></td><td><p>2019</p></td><td><p>142.4</p></td></tr></tbody></table><p> </p><p>[1] MPS Scheme years run from 1 October to 30 September. Payments are generally made on 1 October.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 12/11/2018 17:36:04 answering member 3974 label Biography information for Claire Perry
	tabling member	1387 label Biography information for Lord Mann

994131

	registered interest
	date	24/10/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will launch a public inquiry to investigate concerns expressed by mineworkers on the then government's influence and role in determining the surplus sharing arrangement for the Mineworkers Pension Scheme.
	tabling member constituency	Easington
	tabling member printed	Grahame Morris
	uin	183336
	answer	answer is ministerial correction date of answer 29/10/2018 answer text <p>The Mineworkers Pension Scheme has worked well for all parties and credit must go to the Trustees for their excellent investment strategy and administration of the Scheme. As the Trustees have acknowledged, the Government guarantee has enabled an investment strategy that has resulted in scheme members receiving payments 33% higher than they would have been had they received only their actual earned pension up to privatisation. I do not therefore agree that a public enquiry is needed.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 29/10/2018 17:38:56 answering member 3974 label Biography information for Claire Perry
	tabling member	3973 label Biography information for Grahame Morris

986396

	registered interest
	date	12/10/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, for what reason the Government receives funding from the Mineworkers Pension Scheme while recipients have been advised of a deficit resulting in a reduced bonus.
	tabling member constituency	Easington
	tabling member printed	Grahame Morris
	uin	178492
	answer	answer is ministerial correction date of answer 17/10/2018 answer text <p>The Government guarantees any deficit from the Mineworkers Pension Scheme and in return receives a share of any surplus. Following the most recent valuation in July, a significant surplus in the scheme will ensure that scheme members will receive an additional bonus pension for each of the next six years.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 17/10/2018 16:06:42 answering member 3974 label Biography information for Claire Perry
	tabling member	3973 label Biography information for Grahame Morris

942606

	registered interest
	date	16/07/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress has been made in discussions between the Government, the Mineworkers' Pension Scheme Trustees, Trade Union representatives and others on the Mineworkers' Pension Scheme surplus.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	164474
	answer	answer is ministerial correction date of answer 25/07/2018 answer text <p>I met the Mineworkers’ Pension Scheme (MPS) Trustees recently to discuss options for the future of the Scheme. As a result of that discussion, I have asked BEIS officials to work with the Trustees to explore options for revising the scheme to the benefit of all parties.</p><p> </p><p>The MPS has worked well for all parties and credit must go to the Trustees for their excellent investment strategy and administration of the Scheme. As Trustees have acknowledged, the Government guarantee has enabled an investment strategy that has resulted in scheme members receiving payments 33% higher than they would have been had they received only their actual earned pension up to privatisation.</p><p> </p><p>The most recent valuation has just been completed. Positive results mean that scheme members will receive an additional 4.2% of the guaranteed pension as bonuses for each of the next 6 years. More information is available here: <a href="https://www.mps-pension.org.uk/news/2018/07/results-of-the-2017-valuation" target="_blank">https://www.mps-pension.org.uk/news/2018/07/results-of-the-2017-valuation</a>.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 25/07/2018 15:18:03 answering member 3974 label Biography information for Claire Perry
	tabling member	4458 label Biography information for Conor McGinn

870196

	registered interest
	date	23/03/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, how many times his Department has met the Trustees of the Mineworkers Pension Scheme to discuss the surplus-sharing agreement in the last twelve months; and what actions were taken as a result of those meetings.
	tabling member constituency	Kirkcaldy and Cowdenbeath
	tabling member printed	Lesley Laird
	uin	134127
	answer	answer is ministerial correction date of answer 28/03/2018 answer text <p>Officials have held seven meetings with the Mineworkers Pension Scheme Trustees during the last year, though none of these was specifically to discuss the surplus sharing agreement.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 28/03/2018 14:25:44 answering member 3974 label Biography information for Claire Perry
	tabling member	4660 label Biography information for Lesley Laird