Debbie Abrahams MP, Labour’s Shadow Secretary of State for Work and Pensions, commented on the Governments Defined Benefit Green Paper, said:

“Moves to allow employers to erode the value of their workers’ pensions, which could reportedly cost 11 million pensioners thousands of pounds, are absolutely unacceptable.

“Employers shouldn’t be allowed to break their promises on pensions and we will not stand by while the Government gives the green light to companies to downgrade them.

“The Tories are letting older people down, Labour will fight to guarantee a secure retirement.”