British Rail Pensiion Funds (No. 3)

EDM number 2323 in 1992-93, proposed by Hugh Bayley on 14/07/1993.

That this House notes that 200,000 British Rail pensioners are being warned in a letter from Vernon Hince, the Chairman, and David Adams, the Chief Executive of the BR Pension Fund Trustee Company Ltd., that the Government proposal in the Railway Bill 'places their pensions at risk'; condemns the Government for failing to honour the promise given in the railway privatisation White Paper that 'Privatisation will not affect pensions already being paid from or preserved in British Rail schemes'; recognises that for most retired railway employees their pensions are their life savings; and calls upon the Government to bring forward proposals to revise the Bill so as (a) to retain a single pension scheme for all railway employees, (b) to offer pensions and annual pension increases which are no less favourable than at present and (c) to retain both an annual increase equal to the rate of inflation and the ability to pay a bonus reflecting the investment performance of the scheme as are currently enjoyed.

This motion has been signed by a total of 103 MPs.