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Magnox: Pensions

Department for Business, Energy and Industrial Strategy written question – answered on 27th February 2017.

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Photo of Thangam Debbonaire Thangam Debbonaire Opposition Whip (Commons)

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will take steps to protect Magnox workers affected by reforms to final salary pension schemes across the Nuclear Decommissioning Authority Estate.

Photo of Jesse Norman Jesse Norman Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Nuclear Decommissioning Authority (NDA) is undertaking a consultation with its workforce on potential options for pension reform, after which the NDA will take account of the consultation responses and make proposals for the Government to consider. The NDA estate is part of the public sector, as classified by the Office of National Statistics, in that it receives over £2bn of funding from the UK taxpayer every year.

The Government recognises the unique context that Site Licence Companies and their workforces operate in. During the consultation period the NDA have continued to lead discussions with the Trade Unions on the best approach to pension reform; one that balances the legitimate concerns of taxpayers about the present and future costs of pension commitments, with the workforce’s concern to maintain levels of retirement income for people who have dedicated their working lives to the nuclear decommissioning industry.

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