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Bank Services: Pensions

Volume 483: debated on Tuesday 18 November 2008

To ask the Chancellor of the Exchequer what assessment he has made of the effects on pension funds of major banks ceasing to pay dividends. (228544)

Pension fund exposure to these assets, while not insignificant, is unlikely to be large relative to their total holdings. None the less, these are volatile times for financial markets and the Government are committed to doing whatever it takes to stabilise the banking system, protect savers and taxpayers and support the wider economy.