Pension Schemes Bill

Debate between Peter Swallow and Nia Griffith

Report stage
Wednesday 3rd December 2025 Commons Chamber

[Dame Nia Griffith]

As I said, it is an important principle on the PPF; if we are doing it for those pensioners for the companies that have gone bust, we really should be doing it for the successful companies, too.

[Peter Swallow]

My hon. Friend is being extremely generous in giving way. Effectively—not legally—the Government act as the trustee for the PPF, which is why they have been able to take this decision. Does she agree that if the Government see fit to use their role to increase PPF pensions, trustees of these companies should act just as the Government have done to address this injustice?

[Dame Nia Griffith]

The problem is that many of the trustees are trying to get these increases, but the difficulty they are encountering is that the power structure is such that the company has the last word. Sometimes trustees are actually appointed by the company; sometimes it is a unanimous decision that is then rejected by the company, as I mentioned with the 3M trustees. We see time and again the efforts of trustees totally decimated.

I was interested in what the Minister said in his opening speech about the new powers. What we really want from the Front Bench is some support to help these trustees to use the legislation to which the Minister refers—that is, part of this Bill—and to try to make it work.