(2) when she intends to reply to the letters dated 15 January and 9 February 2010 from the hon. Member for Wantage about the effect of section 75 of the Pension Act 2004 on the Baptist Union of Great Britain;
(3) if she will make an assessment of the effects of section 75 of the Pension Act 2004 on the Baptist Union of Great Britain; and if she will make a statement.
I replied to the hon. Member on 6 March 2010.
Where an employer ceases to participate actively in a multi-employer defined benefit pension scheme, section 75 of the Pensions Act 1995 provides that it may be required to pay an “employer debt”. This is a sum of money payable to the pension scheme. The policy behind the employer debt requirements is to provide protection for pension scheme members after a sponsoring employer ceases to participate.
The Baptist Union of Great Britain has particular concerns about the way that section 75 applies to their pension scheme. I have therefore asked my officials to meet representatives of the Baptist Union to discuss their concerns. They will report to me about the outcome of the meeting.