British Steel Pension Scheme

The following submission was made by the SNPG  because, while none of the proposed changes would impact on the S&N Pension Plan, the Working Party is of the view that the consultation has been rushed and that any changes to pension legislation should be more carefully set out and more fully consulted upon.

The Government is minded to change pension legislation to help Tata Steel.

 A copy of the consulation paper can be found in the resources section, along with a copy of the SNPG response.

2015 AGM Details here

The 2015 AGM will be held on Friday 18th December at 10:30 am in

The French Institute, 13 Randolph Crescent, Edinburgh, EH3 7TT

The AGM Agenda is available on the RESOURCES page of this website

Member Nominated Trustee

You should by now have received a letter from the Trustee telling you that there is a vacancy for a Member Nominated Trustee and setting out how to apply. If you are interested and think you match most of the skills and qualities being looked for we would encourage you to put your name forward as we think it is very important that the person selected is a pensioner rather than a deferred member. If you would like any support in your application please get in touch with us via the website. Applications must be lodged by 21st November 2014.

THE ANNUAL TRUSTEE REVIEW2013/2014

While the increase of 1.5 %, effective from 1st November is welcome by all. It is very disappointing 

that Heineken have yet again failed to honour the 2008 undertaking to increase pensions in line with 

inflation.

Early Day Motion

Edinburgh West MP Mike Crockart has put down an Early Day Motion at Westminster calling on Heineken to meet the pledge it made in 2008.  This was reported in The Scotsman as follows:

MP turns up heat over Heineken pensions deal

By Nathalie Thomas
Published on Monday 30 January 2012 00:00

Politicians have increased the pressure on Dutch brewer Heineken following allegations that it broke a pledge to pensioners of Scottish & Newcastle (S&N) in the wake of its takeover of the Edinburgh-based com–pany in 2008. 

Mike Crockart, MP for Edinburgh West, has tabled an early day motion calling for Heineken to justify its position amid claims that the Dutch giant reneged on a commitment to continue the practice of providing inflation-linked pension increases.

The company failed to make an inflation-linked payment in 2010 when the cost of living exceeded 4 per cent, causing an uproar among tens of thousands of S&N pensioners who claimed they received a “raw deal”.

Heineken denies it has broken any pledges, arguing that payments have been explicitly “discretionary” and that the decision taken in 2010 was based on the outlook for the pension fund at the time.

By contrast, campaign organisation S&N Pensions Group claims: “The public undertaking given by Heineken at the time of the S&N acquisition was unequivocal and clear.”

In the motion, Crockart also calls on the UK government to take stronger steps to protect British pensioners in situations where their employer is bought by a foreign company.

The pensions ombudsman is to investigate the allegations.