The Conservatives have called on the government to take action on behalf of as many as 60,000 people who have lost all or most of their pensions after their employer became insolvent.

Party Response: Conservatives

David Willetts, shadow pensions secretary, said: "We have called a debate at the first opportunity since publication of the Pension Bill to draw attention to the people who will not be helped by the government's proposals.

"Ministers describe the projected start date of early 2005 for the pensions protection fund as 'very challenging' but an estimated 60,000 people have already lost part or all of their pension. More are added to this total each week as companies go bust. The government should at least establish how many people have lost pensions as a result of the crisis and by how much.

"I offered co-operation to the government over a year ago to protect people from losing so much, but have had no response. Furthermore we have supported Frank Field's proposals which call for unclaimed assets in bank and building society accounts to be used to cover the cost of compensation but this was blocked by the government.

"We will be pressing for a solution which is workable and fair to the taxpayer"

Forum Response: ARPO50

A spokesperson for ARPO50 told ePolitix.com: "ARPO50 support any sustainable initiative that can alleviate the plight  of those retired workers who heeded the call to contribute to a pension scheme - and yet, having made the prudent sacrifices that this entailed in other areas of their lives, now find themselves facing retirement without this essential boost to their State pension. 

"We continue to oppose the classification of NHI contributions as 'taxation' and maintain that all such funds should be used to provide a properly-funded retirement pension outside the welfare system.

"By moving pensioners currently on income support to a higher basic State  pension, State money could actually be saved that might be used to help alleviate this contentious problem until the government - and the financial services industry - tackle it head on by retrospectively supporting the claims of those who have been left stranded."