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Public Sector Pensions

Volume 403: debated on Tuesday 8 April 2003

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To ask the Secretary of State for Transport if he will list the (a) funded and (b) unfunded public sector pension schemes for which his Department, its agencies and its non-departmental public bodies are responsible; when the last actuarial valuation was of each scheme; what the value was of the assets at the last actuarial valuation of each scheme; what deficit is disclosed by the last actuarial valuation of each scheme; and if he will make a statement. [104927]

The following lists the pension schemes, with other requested information, for which the Secretary of State for Transport is responsible.

Pension scheme/section

Designated employer

Valuation of liabilities

valuation result

Unfunded

BR (1974) fund [Customary Practices and BTC (Males Wages Grades) arrangements) Strategic Rail Authority31 December 1998 (valuation pending)Liabilities £3.9 million, met from Government support payment under Part. III, Transport Act 1980 (in respect of pre-1974 liabilities of BR) and contributions from former employers within the British Transport Commission
Commissioners of Irish Lights pension schemeCommission of Irish Lights31 March 2002Liabilities of £63 million
Northern Lighthouse pension schemeNorthern Lighthouse Board31 March 2002Liabilities of £47.3 million
Trinity House Lighthouse service pension schemeTrinity House3 March 2002Liabilities of £100.3 million