Members of Parliament have made proposals for the Pension Bill, which are aimed at making the Government increase payouts to people affected by the collapse of the occupational pension scheme.
The proposal suggests that the administration of the scheme is moved away from the Financial Assistance Scheme to the Pension Protection Fund, as this will make claiming assistance easier for all involved.
Our view
Although all parties have backed this proposal, with both the leaders of the Conservative and Liberal Democrats having pledged their support, along with two high profile Labour Members of Parliament, Frank Field and Alan Simpson; we believe the Party Whip will rally Labour to ensure that funding stays away from Government and that orphaned investment monies such as that left in dormant bank accounts and insurance policies will be plundered.