I met the Trustees of the Mineworkers\u2019 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2019-01-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-01-31T16:06:28.233Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-01-25", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4607", "label" : {"_value" : "Biography information for Stephanie Peacock"} } , "tablingMemberConstituency" : {"_value" : "Barnsley East"} , "tablingMemberPrinted" : [{"_value" : "Stephanie Peacock"} ], "uin" : "212661"} , {"_about" : "http://data.parliament.uk/resources/1005842", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1005842/answer", "answerText" : {"_value" : "
Since 1994, the Government has received £4,438.1m from the Mineworkers\u2019 Pension Scheme. £3,127m of that is the Guarantor\u2019s 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>
2016/7: £51m<\/p>
2017/8: £51m<\/p>
2018/9: £617.2m (£475m of which is from the Investment Reserve)<\/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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-15T16:38:30.733Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3915", "label" : {"_value" : "Biography information for Gloria De Piero"} } , "tablingMemberConstituency" : {"_value" : "Ashfield"} , "tablingMemberPrinted" : [{"_value" : "Gloria De Piero"} ], "uin" : "190420"} , {"_about" : "http://data.parliament.uk/resources/1005843", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1005843/answer", "answerText" : {"_value" : "
No payments have been required to date.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-15T16:38:36.717Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3915", "label" : {"_value" : "Biography information for Gloria De Piero"} } , "tablingMemberConstituency" : {"_value" : "Ashfield"} , "tablingMemberPrinted" : [{"_value" : "Gloria De Piero"} ], "uin" : "190421"} , {"_about" : "http://data.parliament.uk/resources/1005844", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1005844/answer", "answerText" : {"_value" : "
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-15T16:38:48.127Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3915", "label" : {"_value" : "Biography information for Gloria De Piero"} } , "tablingMemberConstituency" : {"_value" : "Ashfield"} , "tablingMemberPrinted" : [{"_value" : "Gloria De Piero"} ], "uin" : "190422"} , {"_about" : "http://data.parliament.uk/resources/1005846", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1005846/answer", "answerText" : {"_value" : "
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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-15T16:38:54.647Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3915", "label" : {"_value" : "Biography information for Gloria De Piero"} } , "tablingMemberConstituency" : {"_value" : "Ashfield"} , "tablingMemberPrinted" : [{"_value" : "Gloria De Piero"} ], "uin" : "190423"} , {"_about" : "http://data.parliament.uk/resources/999149", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/999149/answer", "answerText" : {"_value" : "
Those discussions are ongoing. I would be happy to update my hon. Friend once a conclusion has been reached.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-12T17:31:47.907Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-10-31", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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\u2019 Pension Scheme, what discussions his Department has had with the trustees of that scheme; and if he will make a statement.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4663", "label" : {"_value" : "Biography information for Ben Bradley"} } , "tablingMemberConstituency" : {"_value" : "Mansfield"} , "tablingMemberPrinted" : [{"_value" : "Ben Bradley"} ], "uin" : "186447"} , {"_about" : "http://data.parliament.uk/resources/999232", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/999232/answer", "answerText" : {"_value" : "
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 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>
Year[1]<\/p><\/td> | Share of surplus (£m)<\/p><\/td> | Year<\/p><\/td> | Share of surplus (£m)<\/p><\/td><\/tr> |
1998<\/p><\/td> | 113<\/p><\/td> | 2009<\/p><\/td> | 146<\/p><\/td><\/tr> |
1999<\/p><\/td> | 113<\/p><\/td> | 2010<\/p><\/td> | 145<\/p><\/td><\/tr> |
2000<\/p><\/td> | 113<\/p><\/td> | 2011<\/p><\/td> | 331<\/p><\/td><\/tr> |
2001<\/p><\/td> | 196<\/p><\/td> | 2012<\/p><\/td> | 31<\/p><\/td><\/tr> |
2002<\/p><\/td> | 196<\/p><\/td> | 2013<\/p><\/td> | 50<\/p><\/td><\/tr> |
2003<\/p><\/td> | 196<\/p><\/td> | 2014<\/p><\/td> | 50<\/p><\/td><\/tr> |
2004<\/p><\/td> | 175<\/p><\/td> | 2015<\/p><\/td> | 92.1<\/p><\/td><\/tr> |
2005<\/p><\/td> | 175<\/p><\/td> | 2016<\/p><\/td> | 113.4<\/p><\/td><\/tr> |
2006<\/p><\/td> | 175<\/p><\/td> | 2017<\/p><\/td> | 51<\/p><\/td><\/tr> |
2007<\/p><\/td> | 327<\/p><\/td> | 2018<\/p><\/td> | 51<\/p><\/td><\/tr> |
2008<\/p><\/td> | 146<\/p><\/td> | 2019<\/p><\/td> | 142.4<\/p><\/td><\/tr><\/tbody><\/table> <\/p> [1] MPS Scheme years run from 1 October to 30 September. Payments are generally made on 1 October.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-11-12", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-11-12T17:36:04.073Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-10-31", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1387", "label" : {"_value" : "Biography information for Lord Mann"} } , "tablingMemberConstituency" : {"_value" : "Bassetlaw"} , "tablingMemberPrinted" : [{"_value" : "John Mann"} ], "uin" : "186222"} , {"_about" : "http://data.parliament.uk/resources/994131", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/994131/answer", "answerText" : {"_value" : " 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-10-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-10-29T17:38:56.923Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-10-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3973", "label" : {"_value" : "Biography information for Grahame Morris"} } , "tablingMemberConstituency" : {"_value" : "Easington"} , "tablingMemberPrinted" : [{"_value" : "Grahame Morris"} ], "uin" : "183336"} , {"_about" : "http://data.parliament.uk/resources/986396", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/986396/answer", "answerText" : {"_value" : " 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>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3974", "label" : {"_value" : "Biography information for Claire Perry"} } , "answeringMemberConstituency" : {"_value" : "Devizes"} , "answeringMemberPrinted" : {"_value" : "Claire Perry"} , "dateOfAnswer" : {"_value" : "2018-10-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-10-17T16:06:42.45Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2018-10-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mineworkers' Pension Scheme"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3973", "label" : {"_value" : "Biography information for Grahame Morris"} } , "tablingMemberConstituency" : {"_value" : "Easington"} , "tablingMemberPrinted" : [{"_value" : "Grahame Morris"} ], "uin" : "178492"} , {"_about" : "http://data.parliament.uk/resources/942606", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/942606/answer", "answerText" : {"_value" : " I met the Mineworkers\u2019 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> 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> |