Thames Water: Workplace Pensions
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, whether she has had discussions with relevant stakeholders on the protection of Thames Water employees’ pensions in the event of (a) insolvency or (b) entry into Special Administration.
Answered by Emma Hardy
I fully understand that all employees will be concerned about the future of their pensions, and would like to be clear, we expect the company to thoroughly explore all options to protect the pensions of its employees.
In a SAR the Special Administrator – who is legally independent - would be required to consider all options and make decisions relating to the company, including its pensions, in accordance with their obligations as set out in legislation.
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