Oral Answers to Questions

Stephen Phillips Excerpts

Monday 1st July 2013 Commons Chamber

[The Minister of State, Department for Work and Pensions (Steve Webb)]

I am grateful to the hon. Gentleman and pay tribute to his assiduous work on behalf of his constituents in that case. I hope that this afternoon he was able to have a telephone conversation with the Pensions Regulator to discuss it. In general terms, the Pensions Regulator has powers to act overseas, as in the 2007 Sea Containers case and the 2011 Great Lakes case. I am happy to continue working with the hon. Gentleman on the issue.

[Stephen Phillips (Sleaford and North Hykeham) (Con)]

T8. What steps is the Department taking to support those who have worked for one company for most of their lives and whose pensions have now gone into the pension protection fund?

[Steve Webb]

I am pleased to announce that we recognised that the cap in the pension protection fund on those who are early-retired was affecting people particularly adversely if they had long service. We will be tabling amendments to the Pensions Bill so that those who have long service of more than 20 years with a firm will get an enhanced level of protection.