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Session
X
2005-06
Type
House
Session
Year
Department
Member
Primary member
Answering member
Legislative stage
Legislation
Subject
Publisher
To ask the Secretary of State for Work and Pensions pursuant to the oral answer of 9 January 2006, Official Report, column 12, on ASW Sheerness (pension scheme), what the basis is of the estimate of 15,000 pensioners qualifying for assistance under the Financial Assistance Scheme.
To ask the Secretary of State for Work and Pensions pursuant to the oral answer of 9 January 2006, Official Report, column 12, on ASW Sheerness (pension scheme), what the basis is of the estimate of 15,000 pensioners qualifying for assistance under the Financial Assistance Scheme.
Asked by
Julie Morgan
(Labour)
Answered by
Stephen Timms
(Labour)
Answering body
Department for Work and Pensions
Type
Written questions
Status
Answered
Tabled on
17 January 2006
For answer on
20 January 2006
Answered on
20 January 2006
Based on the limited data we have been able to obtain from affected pension schemes, this is our best estimate of the number of members of eligible schemes likely to be within three years of scheme pension age in May 2004 and have less than 80 per cent. of their core pension rights covered by the scheme.
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
20 January 2006
Reference
441 c1637-8W;441 c1636-7W; 44271
House
House of Commons
How many workers who were members of the failed pension scheme at ASW Sheerness have received compensation from the financial assistance scheme.
How many workers who were members of the failed pension scheme at ASW Sheerness have received compensation from the financial assistance scheme.
Asked by
Derek Wyatt
(Labour)
Answered by
Stephen Timms
(Labour)
Answering body
Department for Work and Pensions
Oral questions - Lead
Status
Answered
Tabled on
20 December 2005
For answer on
9 January 2006
Answered on
9 January 2006
None as yet, although the first members of the ASW Cardiff scheme started to receive payments before Christmas. The ASW Sheerness scheme has not yet completed wind-up, and the scheme trustees have confirmed that they have no members aged 65 and over who would qualify for initial payments. My right hon. Friend the Secretary of State is looking forward to meeting my hon. Friend and former ASW employees later this week.
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c11; 40162
Chamber / Committee
House of Commons chamber
House
House of Commons
None as yet, although the first members of the ASW Cardiff scheme started to receive payments before Christmas. The ASW Sheerness scheme has not yet completed wind-up, and the scheme trustees have confirmed that they have no members aged 65 and over who would qualify for initial payments. My right hon. Friend the Secretary of State is looking forward to meeting my hon. Friend and former ASW employees later this week.
None as yet, although the first members of the ASW Cardiff scheme started to receive payments before Christmas. The ASW Sheerness scheme has not yet completed wind-up, and the scheme trustees have confirmed that they have no members aged 65 and over who would qualify for initial payments. My right hon. Friend the Secretary of State is looking forward to meeting my hon. Friend and former ASW employees later this week.
Answered by
Stephen Timms
(Labour)
Asked by
Derek Wyatt
(Labour)
Answering body
Department for Work and Pensions
Type
Oral answers to questions
How many workers who were members of the failed pension scheme at ASW Sheerness have received compensation from the financial assistance scheme.
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c11
Chamber / Committee
House of Commons chamber
House
House of Commons
We estimate that 15,000 will benefit from the financial assistance scheme as constructed. We have made it clear that we will review the scheme, including the amount of funding that is available for it, in the next spending review and, at that stage, decide whether it would be appropriate to change its details.
We estimate that 15,000 will benefit from the financial assistance scheme as constructed. We have made it clear that we will review the scheme, including the amount of funding that is available for it, in the next spending review and, at that stage, decide whether it would be appropriate to change its details.
Answered by
Stephen Timms
(Labour)
Answering body
Department for Work and Pensions
Type
Oral answers to questions
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons
While it is good news for those at ASW Cardiff that they have finally received something, why has the process taken more than 18 months to achieve? When will the 249 other schemes that have already been notified to the FAS be likely to receive some compensation? Will the Minister urgently review the amounts payable, the conditions for eligibility and the patent inadequacy of the funds earmarked for the FAS?
While it is good news for those at ASW Cardiff that they have finally received something, why has the process taken more than 18 months to achieve? When will the 249 other schemes that have already been notified to the FAS be likely to receive some compensation? Will the Minister urgently review the amounts payable, the conditions for eligibility and the patent inadequacy of the funds earmarked for the FAS?
Asked by
Nigel Waterson
(Conservative)
Answering body
Department for Work and Pensions
Oral questions - Supplementary
Status
Answered
Answered on
9 January 2006
Let me make it clear that payments to the first of the former ASW employees were indeed made on schedule—before Christmas. However, it will still take some time for all people in that and other schemes to receive the payments that are due to them. This has been a pretty major exercise. We are expecting some 15,000 people to benefit, and a lot of data must be assembled to make the payments. I pay tribute to the staff, who have worked extremely hard to get the scheme in place, for what they have achieved and for securing the timetable and deadline that we set for making the first payments before the end of 2005.
Subjects
Financial assistance scheme; Pensions; ASW; Compensation; Insolvency; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons
Let me make it clear that payments to the first of the former ASW employees were indeed made on schedule—before Christmas. However, it will still take some time for all people in that and other schemes to receive the payments that are due to them. This has been a pretty major exercise. We are expecting some 15,000 people to benefit, and a lot of data must be assembled to make the payments. I pay tribute to the staff, who have worked extremely hard to get the scheme in place, for what they have achieved and for securing the timetable and deadline that we set for making the first payments before the end of 2005.
Let me make it clear that payments to the first of the former ASW employees were indeed made on schedule—before Christmas. However, it will still take some time for all people in that and other schemes to receive the payments that are due to them. This has been a pretty major exercise. We are expecting some 15,000 people to benefit, and a lot of data must be assembled to make the payments. I pay tribute to the staff, who have worked extremely hard to get the scheme in place, for what they have achieved and for securing the timetable and deadline that we set for making the first payments before the end of 2005.
Answered by
Stephen Timms
(Labour)
Asked by
Nigel Waterson
(Conservative)
Answering body
Department for Work and Pensions
Type
Oral answers to questions
While it is good news for those at ASW Cardiff that they have finally received something, why has the process taken more than 18 months to achieve? When will the 249 other schemes that have already been notified to the FAS be likely to receive some compensation? Will the Minister urgently review the amounts payable, the conditions for eligibility and the patent inadequacy of the funds earmarked for the FAS?
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons
I thank my hon. Friend for that reply. What will happen to the 80,000 or so people who are caught in this trap once the £400 million is spent? What is the Government's plan B on this issue?
I thank my hon. Friend for that reply. What will happen to the 80,000 or so people who are caught in this trap once the £400 million is spent? What is the Government's plan B on this issue?
Asked by
Derek Wyatt
(Labour)
Answering body
Department for Work and Pensions
Oral questions - 1st Supplementary
Status
Answered
Answered on
9 January 2006
We estimate that 15,000 will benefit from the financial assistance scheme as constructed. We have made it clear that we will review the scheme, including the amount of funding that is available for it, in the next spending review and, at that stage, decide whether it would be appropriate to change its details.
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons
I agree with my right hon. Friend about the difficulties that many people have faced. I join him in paying tribute to the trade unions that have done a lot of work to draw attention to the problem. A large group of people—we have been especially concerned about those closest to retirement—faced the prospect of receiving almost nothing from a pension to which they contributed for many years. People who were within three years of their scheme pension age in May 2004 will be receiving assistance, in many cases, from the financial assistance scheme. I have had the opportunity to meet individuals from several trade unions and others who have made representations on the matter. As I said earlier, my right hon. Friend the Secretary of State will meet some people later this week, and I will certainly welcome the opportunity to talk to others in due course.
I agree with my right hon. Friend about the difficulties that many people have faced. I join him in paying tribute to the trade unions that have done a lot of work to draw attention to the problem. A large group of people—we have been especially concerned about those closest to retirement—faced the prospect of receiving almost nothing from a pension to which they contributed for many years. People who were within three years of their scheme pension age in May 2004 will be receiving assistance, in many cases, from the financial assistance scheme. I have had the opportunity to meet individuals from several trade unions and others who have made representations on the matter. As I said earlier, my right hon. Friend the Secretary of State will meet some people later this week, and I will certainly welcome the opportunity to talk to others in due course.
Answered by
Stephen Timms
(Labour)
Asked by
Denis MacShane
(Labour)
Answering body
Department for Work and Pensions
Type
Oral answers to questions
My hon. Friend will be aware that the ASW workers are part of a broader network of people, especially steelworkers, who find that after decades of service to our country, they are without properly protected pension funds because for 18 years the Conservative party did not stand up to business and insist that adequate laws existed to protect such people. Will he acknowledge the work of trade unions such as Amicus and Community, and if and when this is needed, will he receive a delegation from them, because they know the real problems of these great workers, who we need to support as much as we can?
Subjects
Compensation; Insolvency; Financial assistance scheme; Pensions; ASW; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons
My hon. Friend will be aware that the ASW workers are part of a broader network of people, especially steelworkers, who find that after decades of service to our country, they are without properly protected pension funds because for 18 years the Conservative party did not stand up to business and insist that adequate laws existed to protect such people. Will he acknowledge the work of trade unions such as Amicus and Community, and if and when this is needed, will he receive a delegation from them, because they know the real problems of these great workers, who we need to support as much as we can?
My hon. Friend will be aware that the ASW workers are part of a broader network of people, especially steelworkers, who find that after decades of service to our country, they are without properly protected pension funds because for 18 years the Conservative party did not stand up to business and insist that adequate laws existed to protect such people. Will he acknowledge the work of trade unions such as Amicus and Community, and if and when this is needed, will he receive a delegation from them, because they know the real problems of these great workers, who we need to support as much as we can?
Asked by
Denis MacShane
(Labour)
Answering body
Department for Work and Pensions
Oral questions - Supplementary
Status
Answered
Answered on
9 January 2006
I agree with my right hon. Friend about the difficulties that many people have faced. I join him in paying tribute to the trade unions that have done a lot of work to draw attention to the problem. A large group of people—we have been especially concerned about those closest to retirement—faced the prospect of receiving almost nothing from a pension to which they contributed for many years. People who were within three years of their scheme pension age in May 2004 will be receiving assistance, in many cases, from the financial assistance scheme. I have had the opportunity to meet individuals from several trade unions and others who have made representations on the matter. As I said earlier, my right hon. Friend the Secretary of State will meet some people later this week, and I will certainly welcome the opportunity to talk to others in due course.
Subjects
Pensions; ASW; Compensation; Insolvency; Financial assistance scheme; Sheerness
Date
9 January 2006
Reference
441 c12
Chamber / Committee
House of Commons chamber
House
House of Commons