29 January 2008
A lack of information from scheme administrators has been blamed
for the delay in Financial Assistance Scheme (FAS) payments for
some schemes. Ros Altmann, a campaigner for the Pension Action
Group, said some members of the Early's of Witney Pension Scheme
felt they had been waiting too long for FAS payouts and urged
trustees and administrators to ensure they are doing everything
they can to speed up the process.
The Department for Work and Pensions (DWP) said that payments
will be made promptly subject to data being provided on scheme
members as they approach the age of 65.
The scheme administrator for Early's, Hymans Robertson, said it
was working diligently to make sure all payments were made quickly
and that they had provided the FAS will all the data required.
A spokesman further commented that the current form of the FAS
covered less than 10% of scheme membership and that members would
have to wait another 3 to 6 months until a recent Government
extension comes into force.
