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Dept for Work and Pensions

Answer

Mr. Garnier: To ask the Secretary of State for Work and Pensions what discussions (a) he, (b) Ministers in his Department and their predecessors and (c) departmental officials have had with (i) Sir Ronald Cohen, (ii) other directors and senior managers of British United Shoe Machinery (BUSM) Limited and (iii) pension fund managers or trustees of BUSM since 1 June 1997 about the collapse of the BUSM pension fund. [224552] Malcolm Wicks: We are not aware of any such discussions taking place with Sir Ronald Cohen, directors or senior mangers of BUSM or managers or trustees of the BUSM pension scheme about the collapse of the BUSM pension fund. However, we are aware of the very difficult situation faced by members of the BUSM pension scheme, and sympathise with their position. I have held many meetings with members of pension schemes that are winding up, including their constituency MPs and Trade Union representatives. The Government have introduced a number of measures to strengthen scheme member protection in the Pensions Act 2004. These include the introduction of the Pension Protection Fund (PPF), a new pensions regulator and the Financial Assistance Scheme. I can confirm that the BUSM pension scheme is on the indicative list of schemes potentially eligible for the Financial Assistance Scheme.

Secondary information

Type

Written question

Reference

432 c1383W;432 c1379W; 224552

Session

2004-05

Subjects

Directors Workplace pensions Pensions Ministers Pension funds Meetings British United Shoe Machinery

Link

View this Written question on www.publications.parliament.uk