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Written question asked by Lord Myners (Crossbench) on Tuesday, 3 May 2016, in the House of Lords. It was due for an answer on Tuesday, 17 May 2016. It was answered by Baroness Altmann (Conservative) on Wednesday, 11 May 2016 on behalf of the Department for Work and Pensions.

British Home Stores: Pensions

Question

To ask Her Majesty’s Government, further to the Written Answer by Baroness Altmann on 28 April (HL7905), whether the Pensions Regulator has taken any action in the case of the BHS pension scheme in order to fulfil its statutory duty to reduce the risk of situations that may lead to claims for compensation from the Pension Protection Fund, and what assessment they have made of whether the Pensions Act 2004 provides adequate protection to pension scheme members.

Answer

The investigation into the BHS pension schemes and any associated action is a matter for the independent Pensions Regulator.

Once the Regulator has completed its investigation, any subsequent determination will be published on its website.

The Government considers that the Pensions Act 2004 provides the Regulator with a sufficient range of measures to protect pension scheme members and the Pension Protection Fund, including anti-avoidance powers to enable it to act where corporate transactions are aimed at avoiding debts to the pension scheme. The powers of the Regulator are kept under review.

Secondary information

Type
Written question
Reference
HL8143
Session
2015-16
Related items
Pension Protection Fund
Thursday, 28 April 2016
Written questions
House of Lords
Subjects
Pensions Pension Protection Fund Pensions Regulator British Home Stores
Legislation
Pensions Act 2004
Link
View this Written question on www.parliament.uk