20 November 2007
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.
