Parliamentary Search

Written question asked by Lord Myners (Crossbench) on Monday, 9 May 2016, in the House of Lords. It was due for an answer on Monday, 23 May 2016. It was answered by Baroness Altmann (Conservative) on Thursday, 12 May 2016 on behalf of the Department for Work and Pensions.

British Home Stores: Pensions

Question

To ask Her Majesty’s Government whether they, the Pensions Regulator, or the Pension Protection Fund have in the last three years had discussions with BHS, Lady Green or Sir Philip Green concerning the deficit in the BHS pension fund and a scheme to reduce that deficit.

Answer

The Pensions Regulator and the Pension Protection Fund are independent bodies and in carrying out their functions they may meet individuals involved with pension schemes.

Ministers have engaged with a range of sponsoring employers of Defined Benefit pensions schemes as a matter of routine, including Sir Philip Green, as part of their normal considerations of the pensions landscape but oversight of the scheme funding regime for Defined Benefit schemes is a matter for the Pensions Regulator. It would not be appropriate for Ministers to intervene in individual cases or to discuss with the Regulator, the Pension Protection Fund or the scheme sponsor how a particular scheme’s pension deficit should be mitigated.

Secondary information

Type
Written question
Reference
HL8265
Session
2015-16
Subjects
Pensions Pension Protection Fund Pensions Regulator British Home Stores
Link
View this Written question on www.parliament.uk