Lifeboat Fund For Pensions Under Tories

If the Conservatives returned to power, Shadow work and Pensions Secretary Chris Grayling has pledged that victims of collapsed pension schemes would receive the compensation that they are due within three months.  

A lifeboat fund of £30million a year would be set up to help the 125,000 pensioners who have been affected by the collapse of the schemes since 1997.  Mr Grayling commented that the victims of these schemes would take propriety and the damage done to out pension system by Mr Brown is crippling.  

Our view

The question of pension funding is a difficult one.  Employees receive too greater benefit for too little input, and then they all threaten strike action if you try to change it.  The Government need top revisit the whole issue of pension and employment law otherwise some decent employers that offer good pension benefits will have to either close the schemes or close entirely.  

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