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515912

registered interest
date	26/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	British Home Stores: Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether the Pensions Regulator will appoint an investment bank and retail consultancy to support its investigation into the events preceding BHS going into administration.
tabling member printed	Lord Myners
uin	HL7978
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>Parliament gave the Pensions Regulator independence in how it operates. It is for the Regulator to determine how it wishes to undertake any investigation into matters relating to the BHS pension scheme.</p><p><strong> </strong></p> answering member printed Baroness Altmann question first answered 03/05/2016 11:41:02 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515913

registered interest
date	26/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	British Home Stores: Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review decisions taken by the Pensions Regulator in connection with the BHS pension schemes.
tabling member printed	Lord Myners
uin	HL7979
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>In accordance with Parliament’s wishes, the Regulator has operational independence. Whilst performance against its key targets is regularly reviewed by the Department, this does not encompass its regulatory decision-making or the conduct of its investigations. It would be entirely inappropriate and improper for Ministers to comment on or intervene in these areas.</p><p> </p><p><strong> </strong></p> answering member printed Baroness Altmann question first answered 03/05/2016 11:41:23 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515914

registered interest
date	26/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	British Home Stores: Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will publish an estimate of the likely impact of the additional levy that will be imposed on well managed and solvent pension schemes in relation to the BHS pension schemes.
tabling member printed	Lord Myners
uin	HL7980
answer	answer is ministerial correction date of answer 09/05/2016 answer text <p>Parliament gave the Pensions Protection Fund independence in how it operates. The PPF sets the pension protection levy at the level it considers necessary to meet its long term funding strategy rather than in direct response to recent claims. Factors relevant to the level of the levy include: the PPF’s existing funding position (£3.6bn in reserves at March 2015); the potential level of future claims; the potential level of assets that may be received from transferred schemes; and expected future investment returns.</p><p> </p> answering member printed Baroness Altmann question first answered 09/05/2016 16:00:44 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515915

registered interest
date	26/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	British Home Stores: Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will order an inquiry into actions taken by the trustees of the BHS pension schemes in agreeing revisions to funding rates and supporting the sale of the employer.
tabling member printed	Lord Myners
uin	HL7981
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>The Pensions Regulator regulates work-based pension schemes, including trust-based schemes. In accordance with Parliament’s wishes, it has operational independence so it would be entirely inappropriate for Ministers to intervene in its decisions or on-going investigations.</p><p> </p> answering member printed Baroness Altmann question first answered 03/05/2016 11:41:48 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515916

registered interest
date	26/04/2016
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Statement by the Business Minister, Anna Soubry, on 25 April (HC Deb, col 1174), what assistance they plan to offer BHS or Retail Acquisitions.
tabling member printed	Lord Myners
uin	HL7982
answer	answer is ministerial correction date of answer 10/05/2016 answer text Workers and their families will be worried by the news that BHS has been placed in the hands of administrators. The Administrator must secure the best possible result for the business, starting with rescuing it if possible as a going concern. If this does not prove possible, then we stand ready to help those affected, including through Jobcentre Plus’ Rapid Response Service, to help people move into new jobs as quickly as possible. answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 14:49:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515520

registered interest
date	25/04/2016
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Public Sector: Procurement
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the effectiveness of the recommendations on public sector procurement by Sir Philip Green.
tabling member printed	Lord Myners
uin	HL7900
answer	answer is ministerial correction date of answer 09/05/2016 answer text <p>I refer the noble Lord to the answer I gave him on 11 April 2016 to Question HL7227.</p><p>As a result of the commercial and procurement reforms we made during the life of the last Parliament, we saved more than £21 bn.</p> answering member printed Lord Bridges of Headley question first answered 09/05/2016 13:38:49 answering member 4535 label Biography information for Lord Bridges of Headley
tabling member	3869 label Biography information for Lord Myners

515521

registered interest
date	25/04/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pension Protection Fund
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the financial strength of the Pension Protection Fund.
tabling member printed	Lord Myners
uin	HL7901
answer	answer is ministerial correction date of answer 28/04/2016 answer text <p>The Pension Protection Fund is run by an independent Board and reviews its financial position regularly. It manages over £23 billion of assets and, in the 2014/15 Annual Report, the last published, declared a funding ratio of 115.1 per cent and a surplus of £3.6 billion.</p><p><strong> </strong></p> answering member printed Baroness Altmann question first answered 28/04/2016 11:31:07 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515522

registered interest
date	25/04/2016
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the legislation protecting creditors in the event of business failure.
tabling member printed	Lord Myners
uin	HL7902
answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>We do keep insolvency legislation under review. We seek to ensure that the legislative framework strikes the right balance between rescuing a business, which may also save jobs, and the rights of creditors who may lose out financially.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 11:36:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515523

registered interest
date	25/04/2016
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will establish an inquiry into the circumstances surrounding BHS being placed in administration, and in particular in to the implications for employees, pension scheme members and creditors.
tabling member printed	Lord Myners
uin	HL7903
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>When a company enters administration, the administrators have to report to my right hon. Friend the Secretary of State for Business, Innovation and Skills within three months on the conduct of the directors.</p><p>In the case of BHS the Insolvency Service is making early contact with the administrators to discuss the directors’ conduct and to consider whether further steps, such as a detailed investigation, may be necessary.</p><p>Where misconduct is established it can lead to disqualification of a director for between 2 and 15 years.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:50 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

515524

registered interest
date	25/04/2016
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	British Home Stores: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have had any talks with the owners, managers or advisers to BHS; and whether they will take any action to protect employees, creditors and pensioners.
tabling member printed	Lord Myners
uin	HL7904
answer	answer is ministerial correction date of answer 03/05/2016 answer text <p>This is a worrying time for the BHS workforce and their families.</p><p>I understand that there are no plans for immediate store closures and that the administrators are looking to sell BHS as a going concern.</p><p>Clearly if this proves not to be possible, then we stand ready to help those affected, including through Jobcentre Plus’ Rapid Response Service, to help people move into new jobs as quickly as possible.</p><p>The Insolvency Service continues to liaise with the administrators, and stands ready to provide statutory assistance to employees in the event that the commercial situation changes.</p><p>I understand that the BHS schemes are in the early stages of a Pension Protection Fund (PPF) assessment period, during which the PPF will determine the final funding position of the scheme and whether it should assume responsibility for a scheme. We cannot comment on this, or any other individual case directly.</p> answering member printed Baroness Neville-Rolfe question first answered 03/05/2016 11:39:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners