Written question asked by Hilton Dawson (Labour) on Thursday, 18 May 2000, in the House of Commons. It was due for an answer on Thursday, 25 May 2000. It was answered by Malcolm Wicks (Labour) on Thursday, 25 May 2000 on behalf of the Department for Education and Employment.

Dept for Education and Employment

Question: To ask the Secretary of State for Education and Employment, if he will make a statement on the winding-up of the Astra Group Pension Scheme. - (Holding answer 23 May 2000).

Answer: Mr. Dawson: To ask the Secretary of State for Education and Employment if he will make a statement on the winding-up of the Astra Group Pension Scheme. [123324] Mr. Wicks: [holding answer 23 May 2000]: The process for winding-up the Astra Group Pension Scheme started on 1 April 1999. Since then no new pensions have been awarded as members reach age 60, but payments to existing pensioners have continued to be made. The scheme's administrators still have some outstanding issues about the restoration of members' rights in the state pension scheme. These need to be resolved to establish the amount of money available to buy annuities to protect current pensioners and preserved annuities for members with preserved pensions. Until this process is completed, nobody will know the extent of any shortfall in the scheme's assets to meet its liabilities. I am unable, at this stage, to give any indication of when the winding-up process will be completed.

Secondary information