Private Sector Pensions Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Alan Brown
Main Page: Alan Brown (Scottish National Party - Kilmarnock and Loudoun)Department Debates - View all Alan Brown's debates with the Department for Work and Pensions
(6 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Ms McVey
My hon. Friend is right to raise that point. The people watching at home who have a pension or are thinking about investing in one want to know that they are safe. They also want to know what the Government are doing to ensure that they will be safe going forward. That is exactly what we in intend to do with the White Paper by reinforcing corporate governance measures and making them tougher.
Alan Brown (Kilmarnock and Loudoun) (SNP)
As Carillion owes millions of pounds to subcontractors such as small plumbing companies, it is inevitable that there will be other insolvencies. If a plumbing company goes under, its nominal liabilities transfer to fellow employers through a multi-employer pension scheme. That is clearly unfair, but it happens because the PPF refuses to act as guarantor of last resort for multi-employer schemes. When will the Government end that anomaly? If they will not, will they support my ten-minute rule Bill that would sort out the situation?