Early day motion tabled by primary sponsor Jonathan Shaw (Labour), on Tuesday, 11 May 1999, in the House of Commons. It is signed by 41 members in total.

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ELECTRICITY SUPPLY PENSION SCHEME

That this House is concerned at the stated intention of National Grid Co., to amend its group rules of the Electricity Supply Pension Scheme so as to allow themselves , retrospectively, to profit from their failure to make payments to the fund, to cover deficiencies arising from the company's programme; notes that this was found to be unlawful by the Pension Ombudsman in the first instance, and finally by the Court of Appeal which upheld the complaints of Messrs Laws and Mayes against the company and trustees and that the 'wide' power of amendment, highlighted in the Appeal Court judgement of 10th February was contained in rules designed for a nationalised industry with ultimately democratic control of the employer by Parliament; and believes that now in the hands of private employers such powers have been abused by employers in their goal to keep their hands on the 'windfalls' raided from the pension fund.

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Secondary information

Type

Early day motion

Reference

634 

Session

1998-99

Subjects

Payments Pension funds National Grid Company

Link

View this Early day motion on www.parliament.uk