House of Lords written question – answered at on 8 November 2010.
To ask Her Majesty's Government what measures are in place to safeguard the pensions of former employees of financial institutions if the institution is sold to a body based outside the United Kingdom.
The Pensions Regulator, set up under the Pensions Act 2004, is the body responsible for the regulation of work-based pension schemes in the UK. The regulator's main statutory objectives include the protection of the benefits of members of work-based pension schemes administered in the UK and it has a number of powers to meet this objective.
As I said in my reply of
Yes1 person thinks so
No0 people think not
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