DELAY IN RETURNING BUS PENSION MONEY

Summary

That this House deplores the fact that retired bus workers from the privatised National Bus Company are still being deprived of the full value of the pension fund which is legally theirs; notes that it is approaching six months since the High Court approved the terms of the settlement whereby the Government returned ú355.77 million to the Trustees of the BEST and NBPF Pension Funds; further notes that whereas lawyers have been paid around ú2 million, no pensioner has received a penny from the pension fund; believes that the continued delay in paying the pensioners their due entitlement is a disgrace and reflects badly on the Trustees' attitude and competence; and calls upon the Government to make urgent representations to the Trustees in order to resolve matters without further delay in a scandal which dates back 13 years, during which time thousands of pensioners have died.

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Timeline

1. 17 January 2000

   Early Day Motion

   That this House deplores the fact that retired bus workers from the privatised National Bus Company are still being deprived of the full value of the pension fund which is legally theirs; notes that it is approaching six months since the High Court approved the terms of the settlement whereby the Government returned ú355.77 million to the Trustees of the BEST and NBPF Pension Funds; further notes that whereas lawyers have been paid around ú2 million, no pensioner has received a penny from the pension fund; believes that the continued delay in paying the pensioners their due entitlement is a disgrace and reflects badly on the Trustees' attitude and competence; and calls upon the Government to make urgent representations to the Trustees in order to resolve matters without further delay in a scandal which dates back 13 years, during which time thousands of pensioners have died.

   Source: Early Day Motion

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Sponsors

• Sir Bob Russell · Liberal Democrat · Primary sponsor

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