PROTECTION FOR PENSION SCHEME MEMBERS

That this House welcomes the Government's proposed safeguards to increase protection for pension scheme members including 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.