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To ask the Secretary of State for Work and Pensions, what recent discussions she has had with Hewlett Packard on the change in value of pre-1997 pension scheme members’ pensions; and what steps she is taking to support affected pensioners.
To ask the Secretary of State for Work and Pensions, what recent discussions she has had with Hewlett Packard on the change in value of pre-1997 pension scheme members’ pensions; and what steps she is taking to support affected pensioners.
The Department for Work and Pensions has had no discussions with Hewlett Packard on this issue. Discretionary increases in benefits above the statutory minimum and those required by scheme rules are a matter for the scheme sponsor and trustees.
Most schemes do pay some pre-1997 indexation, because of scheme rules or as a discretionary benefit. Analysis published last year by the Pensions Regulator shows that as of March 2023, only 17 per cent of members of private sector defined benefit pension schemes did not receive any pre-1997 indexation on benefits. This information can be found at: https://www.thepensionsregulator.gov.uk/en/document-library/research-and-analysis/data-requests#f3a5fe60511a445f91112bd7dd8a64ae
The Government’s pension reforms on the use of surpluses in defined benefit schemes will make it easier for individual schemes to make decisions that improve outcomes for both sponsoring employers and members, which could include discretionary benefit increases. These changes are being taken forward through the Pension Schemes Bill which had its second reading on Monday 7th July.
To ask the Minister for the Cabinet Office, how many contracts Hewlett Packard Enterprise has with the Government; and what the value of each of those contracts is.
To ask the Minister for the Cabinet Office, how many contracts Hewlett Packard Enterprise has with the Government; and what the value of each of those contracts is.
Since January 2011, details of central government contracts above the value of £10,000 are published on Contracts Finder. Contracts published prior to 26 February 2015 can be viewed at:
https://data.gov.uk/data/contracts-finder-archive
Those published after 26 February 2015 can be viewed at:
Briefing paper originally prepared for Westminster Hall debate on 17 January the 'Digital Equipment Ltd's pension scheme' - updated since
Briefing paper originally prepared for Westminster Hall debate on 17 January the 'Digital Equipment Ltd's pension scheme' - updated since
To ask the Secretary of State for Work and Pensions, what discussions he has had with Hewlett Packard on uplifts for the pre-1997 Digital Section of its Defined Benefit pension scheme; and what progress has been made as a result of those discussions.
To ask the Secretary of State for Work and Pensions, what discussions he has had with Hewlett Packard on uplifts for the pre-1997 Digital Section of its Defined Benefit pension scheme; and what progress has been made as a result of those discussions.
I have met senior representatives from the company to present the pensioners’ arguments and make clear my interest in the matter.
However, the company is meeting its legal obligations.
Any increases to pensions in payment are likely to mean significant additional expenditure for any scheme and its sponsoring employer. Therefore, the Government has no plans to require all schemes to pay increases on pre-1997 pensions.
To ask the Secretary of State for Work and Pensions, what progress his Department has made on behalf of DEC, Compaq and Hewlett Packard pensioners with pre-1997 pension contributions in resolving their case.
To ask the Secretary of State for Work and Pensions, what progress his Department has made on behalf of DEC, Compaq and Hewlett Packard pensioners with pre-1997 pension contributions in resolving their case.
I have met senior representatives from the company to present the pensioners’ arguments and make clear my interest in the matter.
However, the company is meeting its legal obligations.
Any increases to pensions in payment are likely to mean significant additional expenditure for any scheme and its sponsoring employer. Therefore, the Government has no plans to require all schemes to pay increases on pre-1997 pensions.
Motion that this House has considered Digital Equipment Ltd's pension scheme. Agreed to on question.
Motion that this House has considered Digital Equipment Ltd's pension scheme. Agreed to on question.
I beg to move,
That this House has considered Digital Equipment Ltd’s pension scheme.
It is a pleasure to serve under your chairmanship, Mr McCabe, and to move this motion on behalf of my constituents. I am grateful to those Members who are here to take part in the debate. I am...
I beg to move,
That this House has considered Digital Equipment Ltd’s pension scheme.
It is a pleasure to serve under your chairmanship, Mr McCabe, and to move this motion on behalf of my constituents. I am grateful to those Members who are here to take part in the debate. I am...
The hon. Lady is making an excellent case on behalf of her constituents. Does she agree that not only Digital or Hewlett Packard employees but those of other companies are affected? She mentioned that only 10% of defined-benefit pension schemes do not pay indexation. Campaigners are asking not for indexation...
The hon. Lady is making an excellent case on behalf of her constituents. Does she agree that not only Digital or Hewlett Packard employees but those of other companies are affected? She mentioned that only 10% of defined-benefit pension schemes do not pay indexation. Campaigners are asking not for indexation...
The right hon. Lady makes a valid point that campaigners are not asking for indexation to be backdated, which would cause considerable difficulties for the companies involved. I will come to that point later.
I empathise with Hewlett Packard and other businesses that inherited defined-benefit schemes through expanding their operations during...
The right hon. Lady makes a valid point that campaigners are not asking for indexation to be backdated, which would cause considerable difficulties for the companies involved. I will come to that point later.
I empathise with Hewlett Packard and other businesses that inherited defined-benefit schemes through expanding their operations during...
I speak because one of my constituents has been in contact with me. I have explained that I cannot stay for the whole debate. Is the hon. Lady essentially saying that it is the older, poorer pensioners who do not get increases, and the younger ones, who earn more, who...
I speak because one of my constituents has been in contact with me. I have explained that I cannot stay for the whole debate. Is the hon. Lady essentially saying that it is the older, poorer pensioners who do not get increases, and the younger ones, who earn more, who...
I thank the hon. Gentleman for his intervention. The people who have paid in for the longest are getting the least benefit back from the scheme, although I recognise that pension schemes have changed.
I would like to hear from the Government what options, if any, are open to scheme members....
I thank the hon. Gentleman for his intervention. The people who have paid in for the longest are getting the least benefit back from the scheme, although I recognise that pension schemes have changed.
I would like to hear from the Government what options, if any, are open to scheme members....
This is a particular issue for Ayrshire. As my hon. Friend the Member for Ayr, Carrick and Cumnock (Corri Wilson) pointed out, a large Digital site there got taken over by Compaq and then by Hewlett Packard. The problem is that this is not like the BHS scenario—it is not...
This is a particular issue for Ayrshire. As my hon. Friend the Member for Ayr, Carrick and Cumnock (Corri Wilson) pointed out, a large Digital site there got taken over by Compaq and then by Hewlett Packard. The problem is that this is not like the BHS scenario—it is not...
I apologise in advance: I will not be here at the end because I will be in a meeting with Equitable Life, which was just mentioned by the hon. Member for Central Ayrshire (Dr Whitford). May I make one positive suggestion, almost as an intervention, open to those pension funds,...
I apologise in advance: I will not be here at the end because I will be in a meeting with Equitable Life, which was just mentioned by the hon. Member for Central Ayrshire (Dr Whitford). May I make one positive suggestion, almost as an intervention, open to those pension funds,...
Thank you, Mr McCabe. It is a pleasure to serve under your chairmanship.
I commend my hon. Friend the Member for Ayr, Carrick and Cumnock (Corri Wilson) for securing this important debate, and the HP Pension Association for its work and all it has done to highlight the issue, particularly the...
Thank you, Mr McCabe. It is a pleasure to serve under your chairmanship.
I commend my hon. Friend the Member for Ayr, Carrick and Cumnock (Corri Wilson) for securing this important debate, and the HP Pension Association for its work and all it has done to highlight the issue, particularly the...
Does my hon. Friend agree that it is also outrageous that Hewlett Packard pays cost of living rises to its pensioners in Europe but not those here? That shows that this is totally related to the loophole in the UK guidance.
Does my hon. Friend agree that it is also outrageous that Hewlett Packard pays cost of living rises to its pensioners in Europe but not those here? That shows that this is totally related to the loophole in the UK guidance.
That is a real discrepancy, and it shows that those payments are affordable. Hewlett Packard can afford to pay the increases if it is doing so in other places. The UK Government have a responsibility to consider that and see what changes they can make.
We are all aware of the...
That is a real discrepancy, and it shows that those payments are affordable. Hewlett Packard can afford to pay the increases if it is doing so in other places. The UK Government have a responsibility to consider that and see what changes they can make.
We are all aware of the...
It is an extra special pleasure to serve under your chairmanship, Mr McCabe—I prepared a seven-minute speech, you suggested I might get five minutes and I now have 10. That is so unusual in this place.
I congratulate the hon. Member for Ayr, Carrick and Cumnock (Corri Wilson) on bringing this...
It is an extra special pleasure to serve under your chairmanship, Mr McCabe—I prepared a seven-minute speech, you suggested I might get five minutes and I now have 10. That is so unusual in this place.
I congratulate the hon. Member for Ayr, Carrick and Cumnock (Corri Wilson) on bringing this...
The thought going through my mind is that, when I go back to my office, I find Parliament-supplied equipment made by Hewlett Packard. I also bought my own printers from Hewlett Packard. I am beginning to wonder whether I knew enough to regard it as a reputable firm that I...
The thought going through my mind is that, when I go back to my office, I find Parliament-supplied equipment made by Hewlett Packard. I also bought my own printers from Hewlett Packard. I am beginning to wonder whether I knew enough to regard it as a reputable firm that I...
I certainly wonder the same thing; I have something to say to the Minister specifically on that—not about my personal choices or the hon. Gentleman’s, but about the Government’s.
Hewlett Packard can hide behind the law, and has for years, but that does not mean that what it is doing is...
I certainly wonder the same thing; I have something to say to the Minister specifically on that—not about my personal choices or the hon. Gentleman’s, but about the Government’s.
Hewlett Packard can hide behind the law, and has for years, but that does not mean that what it is doing is...
As the hon. Gentleman has pointed out, this is not a legal failure of Hewlett Packard but a moral one. Does the responsibility not therefore lie in this place to ensure that the law and guidance are very clear? It is our job to protect the pensioners.
As the hon. Gentleman has pointed out, this is not a legal failure of Hewlett Packard but a moral one. Does the responsibility not therefore lie in this place to ensure that the law and guidance are very clear? It is our job to protect the pensioners.