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Pensions: Insolvency

Volume 458: debated on Thursday 15 March 2007

To ask the Secretary of State for Work and Pensions what estimate his Department has made of the cost of meeting the judgment of the Ombudsman’s report on the matter of the employee pensions failure (a) over the next 60 years and (b) on an annual basis. (126334)

The High Court directed the Secretary of State to reconsider the first recommendation in the ombudsman’s report “Trusting in the Pension’s Promise”. The court did not require the Department to make any payment. An estimate of the cost of implementing all of the ombudsman’s proposals is given in the annex to the Government’s Response to the Report by the Parliamentary Ombudsman published in June 2006.