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Written question asked by Bob Russell (Liberal Democrat) on Thursday, 9 December 1999, in the House of Commons. It was due for an answer on Tuesday, 14 December 1999. It was answered by Keith Hill (Labour) on Tuesday, 14 December 1999 on behalf of the Department of the Environment, Transport and the Regions.

Dept of the Environment Transport and the Regions

Question
To ask the Secretary of State for the Environment, Transport and the Regions, how much has been spent on legal fees relating to the Bus Employees Superannuation Trust and National Bus Pension Fund by (a) his Department and (b) the Government as a whole; when the members of the Bus Employees Superannuation Trust and National Bus Pension Fund are likely to receive the £356 million which he announced on 15th June would be returned to them; what the reasons are for the delay in making the payments; and if he will make a statement; when the £365 million which the Government is returning to the members of the Bus Employees Superannuation Trust and National Bus Pension Fund was handed over to the trustees for eventual distribution. - Inc figures.
Answer

Mr. Bob Russell: To ask the Secretary of State for the Environment, Transport and the Regions (1) how much has been spent on legal fees relating to the Bus Employees Superannuation Trust and National Bus Pension Fund by (a) his Department and (b) the Government as a whole; [102645] (2) when the members of the Bus Employees Superannuation Trust and National Bus Pension Fund are likely to receive the £356 million which he announced on 15 June would be returned to them; what the reasons are for the delay in making the payments; and if he will make a statement; [102646] (3) when the £365 million which the Government are returning to the members of the Bus Employees Superannuation Trust and National Bus Pension Fund was handed over to the trustees for eventual distribution. [102647] Mr. Hill: The previous Government decided to fund litigation by the National Bus Company pension trustees following a decision by the Pensions Ombudsman. This litigation was concluded with the approval by the High Court on 30 July of the terms of a negotiated settlement. Expenditure by my Department on legal and other costs related to the litigation has been £1,965,000. Of this, costs incurred by the trustees were £1,723,000 and the Department's costs were £242,000. These figures cover the costs of the litigation. I do not have information on any costs incurred by other Government Departments in connection with the NBC issue. The Government paid the settlement sum-- £355.7 million--over to the trustees on the day of the High Court's decision. Responsibility for deciding on, and implementing, the distribution of the settlement amongst those eligible to receive a share of it must remain entirely with the NBC pension trustees. This is a substantial and complex task. However I am sure the trustees will be seeking to complete it as quickly as possible.

Secondary information

Type
Written question
Reference
341 c102-3W; 102645;102646;102647
Session
1999-00
Subjects
Legal costs Pensions Pension funds Bus Employees Superannuation Trust National Bus Company
Contains statistics
Yes