Moves that would weaken the protection for pension schemes are to be considered by ministers, the government will announce on Wednesday.

Rosie Winterton, pensions minister, will announce that she is bowing to a big demand of employers by consulting on changes to so-called Section 75 – which compels any business winding up a pension scheme as part of a corporate restructuring or demerger to cover fully its liabilities. The issue has become more pressing for businesses as falling stock markets have increased pensions shortfalls.