Note for DWP, explaining why Government should ask schemes in wind-up to delay buying annuities, in view of the lack of supply, poor rates and possibility of pooling all the assets to organise compensation more cheaply on an ongoing basis.
Letter published in Money Marketing magazine in June 2004, explaining why I believe that Government must compensate and my role in helping pro-bono, not as any kind or paid lobbyist.
Exchange of letters published in the FT on 15th May and 22nd May, regarding the Financial Services Authority’s attempts to justify wrongly telling members of employer schemes that their pensions were aguaranteed’, and failing to warn of the risks.
Note outlining how and why Government funded compensation should be organised.
Press release announcing that members of final salary schemes who have lost their pensions will ask their MP’s to request an investigation by the Parliamentary Ombudsman into claims of maladministration by the Treasury, FSA and DWP, who assured members that their pensions were guaranteed and safe and have not offered sufficient compensation to make up for their losses.
Press release calling on Government to add to the Â£20m a year which they have so far agreed to pay to aassist’ members who have lost their employer pensions.
Practical suggestions as to how to organise a compensation package for workers who lost their pensions on scheme wind-up. This could be a model for the Financial Assistance Scheme, if it has more money.
Comments on the initial figures released by the DWP, estimating numbers affected by winding up pension schemes, who have lost most of their pensions.
New estimates of costs of compensation for victims of pension scheme wind-ups, based on figures from independent trustees and small insured schemes.
Presentation given at Pensions Management Institute Spring conference, 11th March 2004, discussing the case for compensation and asking PMI members to support this cause.