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Occupational Pensions

I was pleased to hear the Secretary of State recognise earlier that some of these people now face severe financial hardship as a result of the loss of their pension savings. Sadly, a number of my own constituents lost their pension savings in the Kalamazoo and United Engineering Forgings schemes. They will of course be disappointed that today is not the end of the road, but they will be a little relieved to hear that they will not be picking up any further costs. Will the Secretary of State reflect, however, on what my hon. Friend the Member for Runnymede and Weybridge (Mr. Hammond) said earlier? While the high-profile issue of people having lost their private pension savings remains in the public eye, it sends a terrible signal to the many millions of our fellow citizens who are wondering whether the same thing might happen to them.