DWP to pay £400m in lost pensions

This amendment calls for the establishment of a new fund, separate from the Pension Protection Fund already proposed in the Bill as the PPF only provides protection for workers in future, not those who have already lost their pensions. Details of the fund’s operations are yet to be worked out through consultations with those impacted, yet the DWP already says there is a “possibility of further contributions from industry”. A review of the new fund is proposed to take place within three years of its establishment. However, proposals will be a hard sell to backbenchers, as calculati...