PMS issue raised again at Stormont

EAST Londonderry MLA George Robinson has again raised the plight of small savers with the Presbyterian Mutual Society at question time in the Assembly.

Last week Mr Robinson asked the First Minister and deputy First Minister what progress has been made with the Treasury and the Prime Minister in seeking a final resolution to the Presbyterian Mutual Society issue.

In response to Mr Robinson's question, the deputy First Minister said the matter had been brought up by himself and First Minister Peter Robinson to David Cameron on May 20.

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The deputy First Minister added: "We have formally written to David Cameron to ask that he reconvene the ministerial working group to bring forward options for final decisions on the matter. A package of proposals and options remains under consideration. Those include the key features that the Executive agreed at our meeting in April, such as the provision of loans to both a hardship fund and the administrator to facilitate the orderly run-down of the PMS over a period of seven to 10 years. The re-establishment of the ministerial working group will add momentum, and we remain hopeful of securing a satisfactory resolution to the issue."

Mr McGuinness added that he agreed with the East Londonderry that an urgent resolution was needed in the interests of PMS savers.

He added: "Gordon Brown would have seen the sense in moving forward decisively to resolve the issue prior to the Westminster election. Unfortunately, that was not to be. There is now a new Government, and we seek the re-establishment of the ministerial working group. Taking David Cameron at face value in the initial discussion that we had with him in Stormont Castle, it seems that he is as concerned as we are with trying to reach a resolution as quickly as possible."

"We know that there is suffering out there and that our people who were small savers in the PMS face difficult times. Many of those people are nearing the age of retirement or trying to put in place packages for themselves. Others have responsibilities to relatives who are ill or in care homes. All of that is an argument for the situation to be expedited as soon as possible. The First Minister and I are determined to get a result as quickly as possible."

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Commenting on the deputy First Minister's comments, Alderman Robinson said: "It is clear from the deputy First Ministers answer that the Executive is still focused on sorting the PMS situation out. I welcome the fact that the Prime Minister is being urged to bring the situation to a speedy end in order to set small investor minds at ease and to secure their futures"