18 July 2007
The Government has promised to increase funding for the
Financial Assistance Scheme (FAS) so that all scheme wind-up
victims, eligible for the FAS will get 90 per cent of their core
pension.
The Financial Assistance Scheme offers financial help to some
people who have lost out on their pensions because their
occupational pension scheme was under funded when it started to
wind-up and their employer has been unable to make up the shortfall
because it is insolvent or no longer exists.
