Section 75 Employer Debt

EDM number 256 in 2016-17, proposed by Deidre Brock on 28/06/2016.
Categorised under the topics of Pensions and Small businesses.

That this House expresses concern that changes to pensions legislation intended to ensure that employers meet their pension scheme liabilities are causing unintended financial difficulties for small business owners in non-associated multi-employer pension schemes, including the Plumbing and Mechanical Services (UK) Industry Pension Scheme; notes that the section 75 employer debt is calculated at full buy-out level and includes a share of orphan liabilities, causing debts for employers which can be substantially more than what would be required to meet pension obligations and in many cases threatening their homes and life savings; and calls for publication of a response from the Government to the consultation on section 75 employer debt legislation which closed in May 2015 and for urgent revision of the way this debt is calculated for non-associated multi-employer schemes.

This motion has been signed by a total of 57 MPs.