Government Rules out Taxpayers' Money for Pension Bailouts
Philip Thornton Economics Correspondent, The Independent (London, England)
THE GOVERNMENT yesterday ruled out using taxpayers' money to prop up pension funds of failed companies as it published a wide-ranging consultation into reform of the rules governing occupational pension plans.
Alistair Darling, the Social Security Secretary, published an independent report outlining a range of options and called for the "widest possible debate". But he stopped short of outlining which proposals he favoured. "Getting it right, based on as wide a consensus as we can, is more important than rushing into legislation," he said.
There are 13 million pensioners or working members of company schemes. Mr Darling said one in seven schemes failed to meet …
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Publication information: Article title: Government Rules out Taxpayers' Money for Pension Bailouts. Contributors: Philip Thornton Economics Correspondent - Author. Newspaper title: The Independent (London, England). Publication date: September 15, 2000. Page number: 17. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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