The Government has announced that terminally ill people will be the first to receive payments from the new Financial Assistance Scheme.
The Pensions Minister confirmed that draft regulations would allow the scheme to fast track payments to the people most in need after losing their pensions through the collapse of their company.
Early payments will be available from the £400 million scheme, for those people who reach 65 before their company pension scheme has completely wound up.
Our view
Difficult to judge this move. It is understandable that those with terminal conditions want to have the opportunity to enjoy benefits - but what about those who are not ill but are still in financial hardship and desperate for pension compensation?
We believe the FAS cannot win either way, there will always be people at the head of queue and those that are further down the line.