Anne Main backs House of Lords amendment to set up a 'Lifeboat Fund' for victims of collapsed company pension schemes.

Yesterday, in a debate on Pensions which proposed the setting up of a Pension Protection Lifeboat Fund for victims of collapsed company pension schemes, Anne Main voiced concerns of constituents who were victims of the collapse Hemel Hempstead shelving manufacturer Dexion, which was put into administration in 2003, leaving a gaping hole in its pension scheme.

In the debate, Anne said:

"I do not think any of us can really imagine what it is like to lose a pension after 30 years of saving. Many of those involved in this scheme were ordinary hard-working people, who did not expect riches in later life but certainly expected to avoid the poverty trap into which many on state pensions had fallen. They are not feckless spendthrifts waiting to be bailed out.

At 64, my constituent Mike Chapman was within a fortnight of retirement. When Dexion-a firm that manufactured shelving-went into administration, it left a gaping hole in its pension scheme. Mike Chapman tells me that instead of a pension of more than £1,200 a month, he and others like him will receive nothing."

Upon leaving the Chamber, Anne said.

"To force the Government into action, Conservatives brought forward proposals for a Lifeboat Fund to provide a level of support equal to the much more generous Pension Protection Fund. It was disgraceful that these proposals were rejected by the Government as they did have cross party support-victims of this disaster have been let down yet again."

After the debate the Pensions Action Group who supported the victims wrote to Anne and said "you have personally put into understanding the background at first hand in speaking out over this great injustice on the floor of the House.""