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631277

registered interest
date	07/11/2016
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	British Coal Staff Superannuation 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 British Coal Staff Superannuation Scheme under the guarantee arrangements.
tabling member constituency	Ashfield
tabling member printed	Gloria De Piero
uin	51977
answer	answer is ministerial correction date of answer 17/11/2016 answer text <p>No payments have been made into the scheme by the Government.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/11/2016 16:17:03 answering member 3991 label Biography information for Jesse Norman previous answer version 20393 answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman answering member 3991 label Biography information for Jesse Norman
tabling member	3915 label Biography information for Gloria De Piero

631278

registered interest
date	07/11/2016
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	British Coal Staff Superannuation 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 the British Coal Staff Superannuation Scheme since 1994.
tabling member constituency	Ashfield
tabling member printed	Gloria De Piero
uin	51978
answer	answer is ministerial correction date of answer 17/11/2016 answer text <p><strong> </strong></p><p>In its role as Guarantor, the Government has received £3,119m from the British Coal Staff Superannuation Scheme since 1994 representing part of its share of assessed surpluses. Prior to 2009, the surplus-sharing arrangements worked well, with the presence of the Guarantee enabling the Trustees to invest in a way that generated surpluses and, as a consequence, bonuses to members. However, after shortfalls in 2009 and 2012 valuations, new arrangements were agreed in 2015 to end surplus-sharing and replace it by a series of fixed benefit uplifts for members in order to ensure the long term viability of the scheme.</p><p><strong> </strong></p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/11/2016 16:18:42 answering member 3991 label Biography information for Jesse Norman previous answer version 20396 answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman answering member 3991 label Biography information for Jesse Norman
tabling member	3915 label Biography information for Gloria De Piero