Pensions (Amendment) Bill 2017

Public bill · Private Member · Introduced

The proposal would stop financially healthy companies from closing defined benefit pension schemes unless the scheme is at least 90% funded. It defines a “healthy” employer as one with positive net revenues, or one whose parent company has positive net revenues. The aim is to protect workers’ pension promises and prevent solvent companies from leaving pension deficits behind when they shut schemes.

Formal long title

Bill entitled an Act to amend the Pensions Act 1990 to prevent solvent companies walking away and reneging on their pension obligations to their employees

Last updated 13 February 2020