Asked by: Lord Mann (Labour - Life peer)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the financial effect on members of the Plumbing and Mechanical Services (UK) Industry Pension Scheme of the operation of section 75 of the Pensions Act 1995.
Answered by Guy Opperman
As I explained in the adjournment debate on 11 January our Green Paper sought views about the current Section 75 employer debt regime and we have considered carefully the evidence made available by a number of pension schemes who responded, including the Plumbing and Mechanical Services (UK) Industry Pension Scheme. We have also assessed the impact any changes in this area could have on pension scheme members, and all other sponsoring employers.
Asked by: Lord Mann (Labour - Life peer)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what assessment he has made of the equity of the arrangements for sharing pensions between divorced couples where the divorce took place more than 10 years ago.
Answered by Guy Opperman
Financial settlements following divorce or dissolution of a civil partnership, including which assets are included and how they are divided, is a matter for the family and matrimonial law of England and Wales, Scotland or Northern Ireland. The pension legislation which provides the mechanism for implementing a pension sharing order granted by the courts remains largely unchanged since the introduction of pension sharing in December 2000.
Asked by: Lord Mann (Labour - Life peer)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what progress has been made as a result of consultations on section 75 pensions liabilities for small plumbing partnerships.
Answered by Lord Harrington of Watford
Following a Call for Evidence we are exploring alternative methods to help small employers in multi-employer schemes manage section 75 employer debts with a view to consulting on proposals in due course.
Asked by: Lord Mann (Labour - Life peer)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, what recent representations he has received on section 75 employer debt in pension funds; and if he will make a statement.
Answered by Lord Harrington of Watford
Last year, we undertook a call for evidence on issues around section 75 debt and employers in multi-employer schemes and have been actively considering the responses.
More recently, we have been engaging direct with interested parties as we seek to ensure the appropriate balance between protection for members and burdens on employers.
Asked by: Lord Mann (Labour - Life peer)
Question to the Department for Work and Pensions:
To ask the Secretary of State for Work and Pensions, how many partnerships have been adversely affected by section 75 employer debt in pension funds; how many such partnerships have been (a) converted to limited liability and (b) declared insolvent; and what advice his Department has provided to partnerships facing potential section 75 employer debts.
Answered by Lord Harrington of Watford
We do not have any information about numbers of employers who may be liable for a section 75 debt. This is a matter between the employer and the scheme.
The Department does not provide advice to any employers about potential section 75 debts. The Pensions Regulator provides a range of information and guidance on all matters related to pensions scheme funding. However, employers or former employers should take their own professional and legal advice about their liabilities.