New Help for Fund Failure Victims
Government publishes details of Financial Assistance Scheme
23rd February 2005
The government has announced details of its Financial Assistance Scheme, which will provide help to people whose pension schemes have gone bust.
Older victims of between 57 and 73 years should get 80% of their pensions, if they belong to one of around 380 'potentially eligible' schemes. The rules will be reviewed every 3 years, to account for younger members nearing retirement.
It's estimated that around 65,000 people have been hit by pension scheme insolvency.
Read More: BBC Your Money
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