Lord Myners – 2016 Parliamentary Question to the Department for Work and Pensions
The below Parliamentary question was asked by Lord Myners on 2016-05-03.
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.
Baroness Altmann
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.
