Occupational Pensions

EDM number 710 in 2002-03, proposed by Kevin Brennan on 11/02/2003.

That this House, in welcoming the government's Green Paper on Pensions, believes that the Government should consider the following three proposals to put right the occupational pension injustice suffered by former workers at Allied Steel and Wire and other similar cases; first, to take urgent steps to give a higher priority to workers nearing retirement and who have contributed to the pension fund for a long period, including schemes which have not yet been finally wound up; secondly, to establish an interim compensation fund as a matter of urgency to compensate pension scheme members whose occupational schemes have not yet been finally wound up; and thirdly, to introduce a Central Discontinuance Fund or similar measure which spreads the risk to final salary occupational schemes when businesses fail, as a long-term solution.

This motion has been signed by a total of 48 MPs.