Secretary of State for Work and Pensions, Andrew Smith has said that the Pensions Bill which contains details of the Pension
Protection Fund will provide new security for pension scheme members.

Mr Smith explained: ‘Where companies with under-funded pensions have gone bust, workers have found themselves severely short-changed on the pension they were expecting. With the Pension Protection Fund, people in pension schemes can be much surer that they will get the pension they were promised.’