The Government has clarified how pension rules work as many pensioners face a reduction in how much they are paid through their scheme.

MP Claire Hanna, from the Social Democratic and Labour Party, asked in Parliament if the Government has any plans to “review the (a) indexation, (b) 90 per cent compensation cap and (c) potential merits of other changes to the Pension Protection Fund”.

The Pension Protection Fund (PPF) takes on the administration of defined benefit schemes where a company has…