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Occupational Pensions: Compensation

Volume 461: debated on Monday 4 June 2007

17. To ask the Secretary of State for Work and Pensions if his Department will consider uprating the level of compensation payable to those who suffered financial losses when their occupational pension schemes were wound-up. (140308)

The Government have reviewed the money available for the FAS, and in March my right hon. Friend the Chancellor announced a substantial package of additional public funding so that members of pension schemes that were wound up underfunded due to employer insolvency will receive significant assistance of up to 80 per cent.