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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

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

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

1173218

	registered interest
	date	24/01/2020
	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 the timeframe is for the implementation of the long-term protection of pension bonuses for members for the Mineworkers' Pensions Scheme.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	7656
	answer	answer is ministerial correction date of answer 29/01/2020 answer text <p>I refer the hon. Member to the answer I gave the hon. Member for Blaenau Gwent on 15 January 2020 to Question <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2020-01-09/1709/" target="_blank">1709</a>.</p> answering member constituency Spelthorne answering member printed Kwasi Kwarteng question first answered 29/01/2020 16:05:27 answering member 4134 label Biography information for Kwasi Kwarteng
	tabling member	4607 label Biography information for Stephanie Peacock

1064385

	registered interest
	date	20/02/2019
	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 information his Department holds on how any surplus taken by the Government from the Mineworkers' Pension Scheme since 2010 has been used by his Department.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	223910
	answer	answer is ministerial correction date of answer 27/02/2019 answer text <p>Surplus payments from the Mineworkers Pension Scheme are paid into the Exchequer, which forms part of wider Government expenditure.</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 grouped question UIN 223911 question first answered 27/02/2019 13:27:58 answering member 3974 label Biography information for Claire Perry
	tabling member	4607 label Biography information for Stephanie Peacock

1064386

	registered interest
	date	20/02/2019
	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 any surplus taken by the Government from the Mineworkers' Pension Scheme since 2010 has been spent.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	223911
	answer	answer is ministerial correction date of answer 27/02/2019 answer text <p>Surplus payments from the Mineworkers Pension Scheme are paid into the Exchequer, which forms part of wider Government expenditure.</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 grouped question UIN 223910 question first answered 27/02/2019 13:27:58 answering member 3974 label Biography information for Claire Perry
	tabling member	4607 label Biography information for Stephanie Peacock

1048033

	registered interest
	date	25/01/2019
	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 meetings he has had with trustees of the mineworkers' pension scheme in the last two years.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	212661
	answer	answer is ministerial correction date of answer 31/01/2019 answer text <p>I met the Trustees of the Mineworkers’ Pension Scheme in June 2018 and our dialogue on potential scheme improvements continues. BEIS officials continue to meet the Trustees on a regular basis.</p> answering member constituency Devizes answering member printed Claire Perry question first answered 31/01/2019 16:06:28 answering member 3974 label Biography information for Claire Perry
	tabling member	4607 label Biography information for Stephanie Peacock

845755

	registered interest
	date	20/02/2018
	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 actuarial advice on which the surplus sharing arrangement in the Mineworker’s Pension Scheme was based.
	tabling member constituency	Barnsley East
	tabling member printed	Stephanie Peacock
	uin	128727
	answer	answer is ministerial correction date of answer 26/02/2018 answer text <p>No such advice was obtained. The arrangements were agreed between the Government, in its role as Guarantor, and the Scheme Trustees.</p><p> </p> answering member constituency Devizes answering member printed Claire Perry question first answered 26/02/2018 11:57:11 answering member 3974 label Biography information for Claire Perry previous answer version 42733 answering member constituency Devizes answering member printed Claire Perry answering member 3974 label Biography information for Claire Perry
	tabling member	4607 label Biography information for Stephanie Peacock