Field calls for shake-up

Labour MP Frank Field has introduced a private member's bill in the House of Commons highlighting the danger of companies winding up pension schemes. Field said there is an increasing danger of those approaching retirement being exposed to huge falls in the value of their benefits. His bill calls for assets to be distributed according to accrued entitlements rather than disproportionately to members who have reached retirement age. Kevin Wesbroom, principal consultant at Hewitt Bacon & Woodrow, agrees the bill addresses important issues. Wesbroom pointed to the collapse of st...