(6 years, 8 months ago)
Commons ChamberThere are 12 Carillion defined benefit schemes in a PPF assessment period. The PPF is working with scheme administrators to determine whether they can pay pensions at or above PPF benefits. Where a scheme cannot do this, the PPF will assume responsibility and pay compensation.
The workers in the Carillion defined contribution scheme should not have to suffer any detriment to their pension. Will the Government be looking to draw back bonuses paid to the Carillion executives to put back into the pension funds?
As I said, the Carillion schemes are at present in the assessment period for the funds, and we are looking at what happened in those instances. The hon. Lady will be pleased to know that we have brought forward our White Paper on defined benefits and increasing the regulator’s powers to support these schemes in the best way possible, to make sure pensioners get those pensions that they so rightly deserve. It is the Conservative party that will be strengthening that for workers, to make sure we look after such pensioners.