Today, there were three orders for consideration and the government were seeking the approval of the House of Commons for its decision to break up of the Society.
I asked when the approx. 150 members of the Society's final salary pension scheme will receive assurances on their pensions as the scheme has been put into administration. The Minister, Ian Pearson, wasn't able to give me any public assurances but agreed to write to me with a detailed public response soon.
I also wanted to know if the quality of service provided to the housing associations from DBS Ltd - the bridge bank for the social housing loan book - will be maintained at a high level. As the loan book is currently being sold there is a danger the quality of service will be diminished through that process. The Minister took the message.
Finally, I asked about the potential for the administrators, KPMG, to milk the fees for the service they are providing for the commercial loan book put into administration. The minister indicated he was sympathetic. We'll see if any action is taken.
I was disappointed with the insubstantial nature of the Minister's responses but hopefully the issues I raised will be taken on board.
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