PLUMBERS' PENSIONS

That this House holds grave concerns for the hundreds of plumbers in pension schemes who face employer debt under section 75 of the Pensions Act 1995 as subsequently amended; notes that because many of the plumbing businesses are unincorporated, their personal wealth and lifetime savings are at risk; reminds the Government that it has committed to working with the industry in exploring alternative methods to help employers in such pension schemes to manage their employer debt; cautiously welcomes the Green Paper on Defined Benefit Pension Schemes published in February 2017, but has concerns over the progress made to date; and calls on the Government to reach a solution as a matter of urgency.