Oral Answers to Questions

Alistair Carmichael Excerpts

Monday 18th December 2023 Commons Chamber

[Jo Churchill]

The UK hospitality industry does a fantastic job, particularly at this time of the year when it is helping us to enjoy the festive season. I am providing help and collaboration by delivering pilot schemes across the industry. In particular, we are developing a more standardised approach to training, which includes a proposal to award a hospitality skills passport. We need to do all we can with workers to build confidence and the right skills. I am interested by my hon. Friend’s idea of helping employers to refocus where the needs are, and I shall be happy to work with him, because hospitality offers a great career and transferable skills.

[Mr Alistair Carmichael (Orkney and Shetland) (LD)]

16. Whether he has had recent discussions with the Pensions Regulator on the adequacy of the administration of defined-benefit pension schemes.

[The Parliamentary Under-Secretary of State for Work and Pensions (Paul Maynard)]

I am fortunate in having already been able to meet representatives of the Pensions Regulator twice since my appointment to discuss the full gamut of their responsibilities.

[Mr Carmichael]

Members of the BP pension scheme, a defined-benefit scheme, have seen the value of their pensions fall by 11% in real terms as a consequence of their senior management’s refusal to upgrade them in line with the cost of living, although the pension fund itself has a £5 billion surplus. Does the Minister agree that if the rules allow companies such as BP to deal from the bottom of the deck when it comes to their own pensioners, these are rules that need to be changed?

[Paul Maynard]

That is certainly something I need to look into. When people raise the issue of specific pension schemes, I am always conscious of just how many thousands of scheme members are potentially watching, so I do not wish to speak off the cuff and raise hopes that I may not be able to fulfil. However, I shall be happy to meet the right hon. Gentleman to discuss the circumstances in greater detail and see what can be done.