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Pensions victims in all-night protest vigil

The Pensions Action Group (PAG) is planning an all-night protest outside Downing Street to protest about the level of compensation they are receiving from the Financial Assistance Scheme (FAS).

The vigil takes place ahead of the Young Review publication which will examine the FAS. PAG are comparing the treatment of pensioners whose companies went bust with savers at the Northern Rock, who were immediately offered protection.

The FAS currently pays out up to 80% of lost pensions up to a maximum of £12,000 a year. The review is considering increasing payments to 90% up to a limit of around £25,000.