UK - A Labour MP is to reintroduce a Bill to parliament that aims to force trustee boards to include a pensioner or pensioner-nominated representative.
Coventry South MP Jim Cunningham first sought to change the law in 1996.
He said: “Pensioners feel they are being left out of all sorts of things and you can understand why in some cases.”
Cunningham, who has the backing of Nuneaton MP Bill Olner, is looking for recommendations or advice from anyone who wishes to write to him.
He said: “When we are ready, we will circulate it to people in the Commons seeking support.”
Both Cunningham and Olner are former employees of Rolls Royce, where pensioners are currently rallying for representation on their board of trustees.
But the Coventry and District Association of Rolls Royce Pension Fund Members’ chairman Tom Goodall has been told by trustees, that the idea will not be considered until 2005.
Last year members threatened legal action against the Rolls Royce Pension Fund and claimed the scheme had ceased communicating with them.
Pensioners are concerned at reports that Rolls Royce’s pension funds, which are valued at £4.2bn, face a combined deficit of £1bn.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).