16 March 2009
The Liberal Democrats have called for the government to back the
Pension Protection Fund (PPF). Vince Cable, Treasury spokesman for
the Party, said: "I get a very strong sense that this is the
Titanic hitting the iceberg. It is potentially very vulnerable in a
serious recession, which is what we are now getting into. Companies
won't be able to sustain the fund in its present form. The
Government has to be explicit that it is standing behind it."
The National Association of Pension Funds (NAPF) also backed the
call from the Liberal Democrats.
NAPF Chief Executive, Joanne Segars, said: "In these exceptional
times, maintaining confidence and security in pensions is vital so
it would be a sensible measure for the Government to be the
ultimate guarantor of the Pension Protection Fund."
"We welcome the support of the Liberal Democrats on this
crucial
issue."
A full detailed statement made by
the NAPF can be viewed on their webpage here:
NAPF Press Release - Back the PPF
