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date: 17 April 2009

embargo: 00.01hrs Monday 20 April 2009

TUC on the risk to pensions in the economic downturn

Welcoming the statement today (Monday) from the Pensions Regulator on the risk to pensions in the economic downturn, TUC Assistant General Secretary Kay Carberry said:

'This is a helpful reminder that those involved in running pensions should remain alert to the potential for rare cases of fraud or dishonesty that could jeopardise members' benefits.

'The Regulator recognises the risk that such activity could increase during the economic downtown and anyone becoming aware of such activities should refer their concerns to the regulator.

'We recognise the importance of trustees' being confident to whistle blow their concerns to the Regulator and they should not be penalised by employers for doing so.

'Unions welcome the Regulator's reiteration of the significance of continued good governance of pension schemes.'

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Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (300 words) issued 20 Apr 2009