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1240/5(3018)
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY G.P. SOUTHERN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY, 10th OCTOBER 2006
Question
Would the Minister –
- detail in clear termswhat issues are involved in the protection of pension rightsforpast, current and future employeesof Jersey Telecom should the Companybe sold whollyor partly into private ownership?
- inform memberswhat measures he is developing with others to addressthese issues and what progresshehas made to date?
Answer
- There are a numberofissues that mustbeand will befullyaddressedforeachofthe scenarios. Theprincipal matters for consideration are legislative, tax, contractual, administrative and funding based.
P a st and current employees are, at present, members of a ring fenced' pension scheme within the Public
Employees Contributory Retirement Scheme (PECRS).
T he two principal issues to be addressed relate to legislation (see below) and preserving the tax status of
PECRS should members of the scheme be employed by non-public sector organisations.
F uture employees will have the right to choose for themselves on what terms they accept employment,
including pension matters.
- C onsiderablework is inprogressto produce the information needed for the States to make a decision on whether to sell Jersey Telecom Group Limited early in 2007. This includesgoodprogress on resolving pension issues.
In particular, I would draw Members attention to P.118 of the Chief Minister, to be debated on 7th
November, which seeks the States approval to amend the Public Employees (Retirement) (Jersey) Law 1967.
T h is amendment is required to give effect to a Regulation and an Admission Document that will provide the
legal framework upon which the employees of Jersey Telecom could remain within the PECRS as an admitted body following a full or partial sale of Jersey Telecom Group Limited.