Jenny Willott

Liberal Democrats | Cardiff Central

Question to the Prime Minister

Mr. Jim Cunningham (Coventry, South) (Lab): I welcome the fact that my right hon. Friend and colleague, the Secretary of State for Work and Pensions, is introducing new measures to deal with the mis-selling of pensions and with companies that abuse their pension schemes. I know that my Coventry colleagues will agree with my drawing to the Prime Minister's attention the plight of Massey Ferguson workers who were shamefully treated by that company after long years of service. I notice, however, that there seems to be an omission in the proposals in relation to pension holidays. Will the Prime Minister comment on that?

The Prime Minister: I can say two things to my hon. Friend. First, as a result of the measures that we are introducing, there will be a pension protection fund and a pensions regulator who will focus on tackling fraud, bad governance and poor administration. In addition, the Pension Commission will report back in due course on the private pensions regime. I totally understand the position of people who have seen their pension fund destroyed and their ability to get a good pension limited by what has happened to their company. It is precisely for that reason that we are introducing the legislation.