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Financial Assistance Scheme

Volume 470: debated on Monday 7 January 2008

18. To ask the Secretary of State for Work and Pensions what assessment he has made of the effectiveness of the Financial Assistance Scheme. (175883)

A review was carried out this year by Mercers Human Resource Consulting which reported in August that the process of gathering data to operate the Financial Assistance Scheme (FAS) is fit for purpose and is managed in a satisfactory manner.

They also concluded that delays in obtaining high enough quality data are often caused by trustees’ administrators and insurance firms rather than FAS operational unit processes. Regulatory changes agreed on 11 December will mitigate these delays.