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Rochester & Strood
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MP for Rochester and Strood has today said the new government measures to crack down on bosses recklessly putting pensions at risk would give workers the assurances they needed that their future retirement savings were safe when a company fails.
The White Paper “Protecting Defined Benefit Pension Schemes” laid before Parliament today (MON) will make it a criminal offence to neglect pension responsibilities and could see businesses hit with fines or even prison sentences if they fail to meet their duty. The move comes in the wake of the BHS and Carillion collapses.