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1181340

	registered interest
	date	27/02/2020
	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 plans the Government has to review the existing surplus sharing arrangements of the Mineworkers' Pension Scheme.
	tabling member constituency	Easington
	tabling member printed	Grahame Morris
	uin	21972
	answer	answer is ministerial correction date of answer 03/03/2020 answer text <p>The Government does not intend to change the current surplus sharing arrangements that have worked well for all parties. I have, however, agreed to the Trustees’ proposals for changes to the scheme that include protection of bonuses already accrued. BEIS officials are working with the Trustees to implement the changes.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 03/03/2020 17:56:01 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	3973 label Biography information for Grahame Morris

1183314

	registered interest
	date	06/03/2020
	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 it remains his policy to make sure that no Mansfield miner, or any other miner signed up to the Mineworkers' Pension Scheme, is out of pocket; and what his policy is on the surplus sharing arrangements for that Scheme.
	tabling member constituency	Easington
	tabling member printed	Grahame Morris
	uin	26141
	answer	answer is ministerial correction date of answer 11/03/2020 answer text <p>The Government provides a Guarantee for the Mineworkers’ Pension Scheme that ensures that:</p><ul><li>A member’s guaranteed pension, including inflation increases, will always be paid; and</li><li>A member’s total pension (including bonus pension) will not fall in cash terms.</li></ul><p>In addition, the Government has agreed to changes to the scheme rules that will protect all bonuses that have accrued to date. The Government continues to work with the scheme Trustees on implementing those changes.</p><p> </p><p>The surplus sharing arrangements have worked well for all parties and I do not intend to review those arrangements.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 11/03/2020 16:10:52 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	3973 label Biography information for Grahame Morris

1240476

	registered interest
	date	05/10/2020
	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 the Government has received from its share of the surplus from the Mineworkers' Pension Scheme since the surplus-sharing arrangement was agreed.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	99079
	answer	answer is ministerial correction date of answer 08/10/2020 answer text <p>Since the agreement was reached in 1994, the Government has received £3,<del class="ministerial">4</del><ins class="ministerial">1</ins>11.8m as its share of surpluses. This is in return for the provision of the guarantee that ensures pensions are paid. The 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 Spelthorne answering member printed Kwasi Kwarteng question first answered 08/10/2020 16:56:38 question first ministerially corrected 15/04/2021 16:22:57 answering member 4134 label Biography information for Kwasi Kwarteng previous answer version 52992 answering member constituency Spelthorne answering member printed Kwasi Kwarteng answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4607 label Biography information for Stephanie Peacock

1242509

	registered interest
	date	12/10/2020
	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 how much the Government will receive from the Mineworkers' Pension Scheme in the financial year (a) 2018-19, (b) 2019-20 and (c) 2020-21.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	102150
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>In 2018-19, the Government received £142.4m as its share of surplus and £475m from the Investment Reserve. In each of 2019-20 and 2020-21, the Government received £142.4m as its share of surplus. The presence of the Guarantee has given the Trustees the freedom to invest in a way that targets surpluses and, as a consequence, bonuses to members. Bonuses paid to date mean that the typical member’s pension today is around 33% higher in real terms than it would otherwise have been.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 15/10/2020 16:15:50 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4607 label Biography information for Stephanie Peacock

1242507

	registered interest
	date	12/10/2020
	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 is held in the investment reserve funds for the Mineworkers' Pension Scheme.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	102149
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>As at 30 September 2020, the Investment Reserve stood at £1,216m.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 15/10/2020 16:16:36 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4607 label Biography information for Stephanie Peacock

1242506

	registered interest
	date	12/10/2020
	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, with reference to the Answer of 3 November 2016 to Question 51063 on the Mineworkers' Pension Scheme, whether the Government has made any direct payments to the Mineworkers' Pension Scheme under the guarantee arrangements since November 2016.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	102148
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>No such payments have been made.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 15/10/2020 16:18:00 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4607 label Biography information for Stephanie Peacock

1271374

	registered interest
	date	15/12/2020
	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 he plans to make an assessment of the merits of the UK Miners Pension Scheme provision that 50 per cent of any surplus made after 1994 will be paid to the Government.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	130263
	answer	answer is ministerial correction date of answer 23/12/2020 answer text <p>The Government has reconsidered the surplus sharing arrangements of the Mineworkers’ Pension Scheme (MPS) and concluded that they remain appropriate.</p><p> </p><p>We have agreed to scheme changes proposed by the MPS Trustees which guarantee that bonus pensions already accrued will not be lost in the event of a future deficit. These changes have been implemented.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 23/12/2020 08:53:45 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4866 label Biography information for Alexander Stafford

1314768

	registered interest
	date	14/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the efficacy of Mineworkers’ Pension Scheme for its members.
	tabling member constituency	Ceredigion
	tabling member printed	Ben Lake
	uin	1370
	answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>Members of the Mineworkers’ Pension Scheme receive pensions around 33% higher in real terms as a result of the current arrangements. The Business, Energy and Industrial Strategy Select Committee have made a number of recommendations which the Minister for Business, Energy and Clean Growth will discuss with the Scheme Trustees before responding to the report.</p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 19/05/2021 07:39:14 answering member 4095 label Biography information for Steve Barclay
	tabling member	4630 label Biography information for Ben Lake

1314767

	registered interest
	date	14/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions officials in his Department has had with (a) officials in the Department for Work and Pensions and (b) the Welsh Government on the distribution of the Investment Reserve arising from the Miners’ Pension Scheme.
	tabling member constituency	Ceredigion
	tabling member printed	Ben Lake
	uin	1369
	answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>No such discussions have been held. Following the Business, Energy and Industrial Strategy Select Committee Report publication, the Minister for Business, Energy and Clean Growth has arranged to meet the Scheme Trustees with a view to agreeing a way forward. The Government will then respond to the Committee’s report.</p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 19/05/2021 12:48:29 answering member 4095 label Biography information for Steve Barclay
	tabling member	4630 label Biography information for Ben Lake

1315792

	registered interest
	date	18/05/2021
	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 assessment he has made of the implications for his policies of the recommendations made by the the Business, Energy and Industrial Strategy Select Committee in its report on the Mineworkers' Pension Scheme published on the 29 April 2021.
	tabling member constituency	Sunderland Central
	tabling member printed	Julie Elliott
	uin	2976
	answer	answer is ministerial correction date of answer 24/05/2021 answer text <p>I am due to meet the Scheme Trustees next month to discuss the Committee’s report. I am keen to get their views and will respond formally to the Committee following that discussion.</p> answering member constituency Berwick-upon-Tweed answering member printed Anne-Marie Trevelyan question first answered 24/05/2021 13:20:15 answering member 4531 label Biography information for Anne-Marie Trevelyan
	tabling member	4127 label Biography information for Julie Elliott