Insolvent Pension Scheme Compensation
Published / Last Updated on 24/08/2008
Insolvent Pension Scheme Compensation
The government has said, a total of 6350 scheme wind-up victims are receiving payments from the Financial Assistance Scheme (FAS). Pensions reform minister Mike O’Brien said a further 1001 had been assessed and would be paid as soon as they confirmed their personal details.
Of the 715 schemes currently qualified for FAS, trustees in 511 had provided information on eligible members. He said “We continue to work urgently with trustees and administrators to obtain data on any eligible members in the remaining schemes. We expect that up to 160 additional schemes will become eligible once the regulations currently before parliament come into force”.
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