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Occupational Pensions

Volume 470: debated on Monday 7 January 2008

14. To ask the Secretary of State for Work and Pensions what steps he is taking to provide further assistance to people who have lost their occupational pensions. (175879)

My announcement of 17 December extended the FAS to guarantee members of qualifying schemes 90 per cent. of their accrued pension at the date of commencement of wind-up, revalued to their retirement date, but subject to a cap of £26,000 a year.

22. To ask the Secretary of State for Work and Pensions what plans he has to increase access to occupational pensions for those on low incomes. (175887)

To ask the Secretary of State for Work and Pensions what plans he has to assist low income employees to gain access to occupational pensions. (175872)

The Pensions Bill, having its Second Reading today, would introduce a new simple, low cost personal accounts pension scheme to give those currently without access to a good quality pension scheme—in particular, low to moderate earners—the opportunity to save.