Pension News Government To Be Lobbied Over 'lost' Pensions 2998098

Government to be lobbied over ‘lost’ pensions

25 February 2004
Two trade unions are to lobby the government outside Parliament next week to highlight the plight of workers who have lost their pension entitlements through company bankruptcy.

The Community Union (ISTC) and Amicus will tell the government that confidence in the UK pensions system will not be restored unless all those who have lost their savings through no fault of their own receive compensation.

The unions are currently taking action against the government (on behalf of former employees at the ASW steel works) for failing to properly implement the European Insolvency Directive, which compels them to protect workers’ pensions when their employers are declared insolvent

“Amicus members at ASW were told that their final salary scheme was secure but now they’ve lost almost everything,” Derek Simpson, Amicus general-secretary, stated.

“Successive British governments have failed to adequately implement a European law that would have prevented this and, whilst we welcome the Pension Protection Fund, those who have lost out must be compensated.”

Written by Editorial Team