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Burstow speaks out for Pensions victims
December 8, 2006 12:00 AM
Paul Burstow, MP for Sutton and Cheam, has called on the government to take steps to 'resolve the injustice' caused by the collapse of occupational pension schemes.
Speaking in a special Parliamentary debate on occupational pensions, Mr Burstow cited the case of the "Arcoelectric Switches Pension scheme" which was wound up in December 2003 after Arcoelectric, a local company, was bought out after going into receivership. Mr Burstow spoke out after being contacted by a number of former employees of the firm who have lost their pensions as a result of the wind-up.
It is thought that over 100,000 people across the UK have been affected by the wind-up of occupational pension schemes which they believed were protected. The Parliamentary Ombudsman and the influential Public Administration Select Committee have both criticised the government for maladministration and not taking action to help people affected.
Speaking during the debate, Paul Burstow MP said:
"When my constituents…., who are members of the Arcoelectric Pension scheme read the report of this debate, they will want to know one thing more than anything else.
"In 1995, they were promised safe pensions that were assured, and they want to know when that promise will be fulfilled."
Commenting after the debate, Mr Burstow said:
"There are thousands of innocent people who believed, because they read government-approved documents, that their pensions were safe in these schemes."
"We must be clear: the government has a responsibility to act on the Ombudsman's findings and recommendation and organise a response."
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