PENSION ASSISTANCE FUND

Early day motion 359, tabled 9 December 2004 by Lord Watts (Labour). Signed by 163 members.

That this House notes that thousands of workers now face real hardship and reduced pension rights in their old age as a result of the fact that their pension schemes were in deficit when their employers' companies went into receivership or bankruptcy; welcomes the decision by the Government to set up a ú400 million Pension Assistance Fund; now calls on the pension industry to accept its moral responsibility for the present problems and to make a substantial contribution to the Government Pension Assistance Fund; and believes that such a contribution is the only way in which the industry can start to rebuild confidence in its products.

Signatures by party: Labour 141, Labour/Co-operative 13, DUP 3, Liberal Democrat 3, Conservative 1, Independent 1, Social Democratic and Labour Party 1.