Private Sector Pensions Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Cat Smith
Main Page: Cat Smith (Labour - Lancaster and Wyre)Department Debates - View all Cat Smith'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
I can reassure my hon. Friend that the Pension Protection Fund is there to provide a lifeboat. Those who have retired will receive 100% support, while those who have not will receive 90% support, with a cap. That is what we are here to do: to protect the people who have done the right thing in saving for their future and to look after them in a responsible way, while also ensuring that regulations and processes exist to bring to account those who have done the wrong thing.
Cat Smith (Lancaster and Fleetwood) (Lab)
BlackRock was responsible for Carillion workers’ pensions, while simultaneously betting against their employer on the stock market. What measures will the White Paper contain to ensure that such a conflict of interests cannot happen again?