Source · Select Committees · Business and Trade Committee
Recommendation 17
17
Paragraph: 66
The Government must now accept its moral obligation to the Scheme members, and acknowledge that...
Recommendation
The Government must now accept its moral obligation to the Scheme members, and acknowledge that continuation of the surplus sharing arrangements in their current form robs beneficiaries of the financial security they have rightfully earned.
Paragraph Reference:
66
Government Response
Not Addressed
HM Government
Not Addressed
The Government does not accept that it has benefitted unduly from the arrangements which have been a success and benefitted all parties. Indeed, the concerns about the extent of payments to the Government for its share of surpluses have only arisen as a result of the Scheme’s success. Had the investments not provided as good returns over the years, we would not be having this debate, but Scheme members’ pensions would be considerably lower.