Description of DWP announcements on the Financial Assistance Scheme and explanation of the many issues still requiring clarification for victims.
Article published in Pensions Week explaining why the Government proposed Financial Assistance Scheme is wholly inadequate and expressing the hope that the Parliamentary Ombudsman investigation will prove Government maladministration means the need for compensation, rather than assistance for wind-up victims.
Personal View column published in Financial Times, explaining why the stakeholder savings initiatives have not worked and are unlikely to do so. The target market is not benefiting and providers are not keen to offer these products.
Press release welcoming NAPF’s open letter to the Secretary of State for Work and Pensions, supporting Ros’s calculations of inadequacy of the Financial Assistance Scheme and fears for the future of the Pension Protection Fund.
Letter published in The Times, praising Patience Wheatcroft’s sympathy for the plight of victims of pension scheme wind-ups and the urgency of Government compensation.
Article published in the Times explaining why the Financial Assistance Scheme may sound good, but it is not able to deliver meaningful help to the majority of victims of pension wind-ups and calling for proper compensation to be paid.
Note prepared for DWP explaining why assets of occupational schemes in wind-up should not be used to buy annuities, but should be pooled, as will be the case for the PPF, to minimise costs of assistance and maximise potential pensions for victims.
Note explaining why the Government’s proposed Â£400m Financial Assistance Scheme is wholly inadequate and cannot rectify the injustices suffered by wind-up victims.
Press Release welcoming the launch of a formal investigation by the Parliamentary Ombudsman into Government maladministration of occupational pensions and claims for compensation by victims of occupational scheme wind-ups.
Press release explaining why proposals for the Financial Assistance Scheme are inadequate and could help only a few hundred people, if annuities must be bought, rendering it a virtually empty gesture to rectify a huge social injustice.