Extract from Urgent Question (Commons) on Private Sector Pensions - Jan 22

Lucy Allan (Telford) (Con): I warmly welcome the Secretary of State to her new position and thank her for the reassurances she has given the House this afternoon. GKN employs 340 people in Telford and is currently the subject of a proposed hostile takeover. Will she confirm that the safety of pensions at GKN will be a priority for her Department if the takeover proceeds?

The Secretary of State for Work and Pensions (Ms Esther McVey): That is a matter for the Pensions Regulator, but obviously we have the Pension Protection Fund in place, and we will be looking to ensure that pensioners are safe and protected.

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