Private Sector Pensions Debate

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Department: Department for Work and Pensions

Philip Hollobone

Main Page: Philip Hollobone (Conservative - Kettering)

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Oral Answers to Questions

Private Sector Pensions

Philip Hollobone Excerpts

Points of Order
Monday 22nd January 2018

(6 years, 3 months ago)

Commons Chamber
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Esther McVey Portrait Ms McVey
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That is a matter for the Pensions Regulator, but obviously we have the Pension Protection Fund in place, and we will be looking to ensure that pensioners are safe and protected.

Philip Hollobone Portrait Mr Philip Hollobone (Kettering) (Con)
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How is it that some of these private sector pension fund deficits are allowed to get so large before any action is taken?

Esther McVey Portrait Ms McVey
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We allow businesses to run themselves without interference from Government, and therefore we do not know the complete structure of their profit and loss, and of their assets and liabilities. Should anyone wish to raise a concern about their business, they are free to do so with the regulator. With our combined corporate governance review and new legislation, we will make sure that pensions are on as firm a footing as possible. We will make sure that such abuses do not happen.

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