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Volume 448: debated on Monday 3 July 2006

To ask the Secretary of State for Work and Pensions what discussions he has had with the Chancellor of the Exchequer on (a) improving protection for employees' pension schemes and (b) increasing the amount held in the Pension Protection Fund. (76019)

Both the Secretary of State and I have regular meetings with ministerial colleagues in the Treasury to discuss a range of pension issues. Recent discussions led to our being able to announce a significant extension to the financial assistance scheme, increasing the total funding to £2.3 billion.

The Pension Protection Fund is not funded by Government, but by industry levy.