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Proceeding contribution from Lord Garnier (Conservative) in the House of Commons on Tuesday, 17 July 2007. It occurred during Debate on bill on Pensions Bill.


Pensions Bill

Is there not a further danger in relation to the purchase of annuities? Recently, compared with previous years, annuities have been performing pretty poorly. They have not been giving annuity holders the income that they might have given, say, 15 years ago. Is that not a further concern for those with broken pensions? Are they not also entitled to be concerned about what has happened to their additional voluntary contributions and about the sloth with which the Government have sought to mend the broken pensions? I am thinking particularly of my constituents who have seen their British United Shoe Machinery Ltd occupational pensions go down the Swanee, and have received little comfort from the present Prime Minister or the previous Chancellor of the Exchequer.


Secondary information

Type
Proceeding contribution
Reference
463 c206-7 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Company liquidations Assets Bank services Annuities Insolvency Financial assistance scheme Personal savings Low incomes Pensions Personal pensions Pension funds Pension Protection Fund State retirement pensions
Legislation
Pensions Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk