PLUMBERS' PENSIONS

Motion Text

That this House holds grave concerns for the hundreds of plumbers in pension schemes who face employer debt under section 75 of the Pensions Act 1995 as subsequently amended; notes that because many of the plumbing businesses are unincorporated, their personal wealth and lifetime savings are at risk; reminds the Government that it has committed to working with the industry in exploring alternative methods to help employers in such pension schemes to manage their employer debt; cautiously welcomes the Green Paper on Defined Benefit Pension Schemes published in February 2017, but has concerns over the progress made to date; and calls on the Government to reach a solution as a matter of urgency.