OCCUPATIONAL PENSIONS

Early day motion 710, tabled 11 February 2003 by Lord Brennan of Canton (Labour). Signed by 48 members.

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.

Signatures by party: Labour 36, Labour/Co-operative 7, Liberal Democrat 3, DUP 1, UUP 1.