PENSIONS PROTECTION AND COMPANY INSOLVENCY

Early day motion 195, tabled 26 November 2002 by Adam Price (Plaid Cymru). Signed by 32 members.

That this House notes with alarm the pensions crisis currently affecting former workers of Allied Steel and Wire at Cardiff and Sheerness, Irish Fertilizer Industries at Belfast and United Engineering Forgings at Ayr, and potentially involving dozens more companies experiencing trading difficulties and with significant shortfalls in their final salary schemes; expresses its solidarity with workers who see their pension entitlement reduced to a fraction through no fault of their own; calls on the Government to fully implement Article B of the European Insolvency Rights directive which requires member states to guarantee pension scheme members' rights in failing companies; and further calls for compensation for those workers who have been unfairly treated by their employers and by the Government in its failure to meet its legal and moral obligations.

Signatures by party: Labour 10, Liberal Democrat 7, Scottish National Party 5, Plaid Cymru 4, UUP 4, DUP 2.