§ Lord Oakeshott of Seagrove Bayasked Her Majesty's Government:
Under what circumstances they consider it acceptable for companies to stop their employees contributing to defined benefit pension schemes of which they are members. [HL3179]
§ The Parliamentary Under-Secretary of State, Department for Work and Pensions (Baroness Hollis of Heigham)Employers provide occupational pensions, including defined benefit pension schemes, on a voluntary basis and are therefore free to decide whether to continue to provide such pensions to their employees in the future. There is legislation in place to ensure that the pension rights that individuals have already built up in schemes are protected. We have commissioned reviews of the regulatory system and the retail savings market which are due to report this summer.