STRENGTHENING PROTECTION FOR PENSION SCHEME MEMBERS

That this House welcomes the Government's proposed safeguards to increase protection for pension scheme members; welcomes the proposed strengthening of powers requiring employers to provide contributions to a pension scheme if their actions could threaten the security of members' pensions; recognises the importance of innovation in the pensions sector while balancing this with protecting scheme members; notes that the Pensions Regulator should have stronger powers to protect members' interests; and welcomes the proposals currently out to consultation which give appropriate protection while avoiding additional costs through the Pension Protection Fund.