MP calls for lost pensions action

Published on Friday 26 January 2007 11:59

AN Edinburgh MP has called on the Government not to abandon people who lost their pensions before the Pension Protection Fund (PPF) was set up.

The European Court of Justice has ruled that everyone who lost out when company pension schemes collapsed should be in line for compensation, despite a Westminster decision that the PPF would only cover schemes which were not wound up before April 6, 2005.

This has left around 125,000 UK workers facing an uncertain retirement and John Barrett, Liberal Democrat MP for Edinburgh West, today said the European ruling means the Government should reconsider its position.

He said: "This ruling confirms that the Government has acted outrageously in seeking to brush aside the ombudsman's report on pensions compensation.

"Those people who lost their pensions before the Pension Protection Fund was established are being short-changed. This ruling gives some hope that they may get a better deal."