WINDING-UP ARRANGEMENTS FOR PENSION SCHEMES

Motion Text

That this House deplores the failure of the Government to respond positively to the calls for urgent action to reform the priorities on winding-up final salary pension schemes where the employer is insolvent; expresses its deep concern at the plight of former employees of ASW and other firms whose financial well-being has been severely affected following the collapse of their company; notes the support expressed by honourable Members from all sides of the House for such a reform; urges the Government to agree to make the necessary changes now rather than delaying further; and calls on the Prime Minister and the Secretary of State for Work and Pensions to support the cross-party concensus for action.