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Written question asked by Henry Tufnell (Labour) on Wednesday, 12 November 2025, in the House of Commons. It was due for an answer on Monday, 17 November 2025 (named day). A holding answer was provided on Monday, 17 November 2025. A substantive answer was provided by Torsten Bell (Labour) on Monday, 17 November 2025 on behalf of the Department for Work and Pensions.

ASW: Workplace Pensions

Question

To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential merits of indexing payments from the Financial Assistance Scheme for pensions accrued before 1997 by Allied Steel and Wire members.

Answer

We are committed to consider what we have heard on this issue. I have heard first hand all the challenges facing ASW workers and others with pre-1997 accrued pensions. However any change in this area has significant implications on public finances for the taxpayer funded Financial Assistance Scheme.

We will continue to work through these important issues with the Pension Protection Fund. The PPF has recently reviewed, and made publicly available, its assessment of the potential impacts of addressing pre-1997 indexation for all the schemes within its remit.

Secondary information

Type
Written question
Reference
90490
Session
2024-26
Subjects
Index linking Workplace pensions Payments ASW
Link
View this Written question on www.parliament.uk