2007 - A good year for pensions?

clock

Pension campaigners had reason to celebrate at the end of this year as the Government gave a £12.5bn pledge to 140,000 people who lost their savings in occupational pension schemes.

The long-awaited move followed outcry at the £25bn the Bank of England threw at Northern Rock to secure customer deposits while it left pension savers in the cold. Secretary of State for Work and Pensions Peter Hain gave a welcome Christmas present when he announced Financial Assistance Scheme (FAS) help for those affected for 90% of their accrued pension and extended the settlement to cover 11,000 people in schemes wound up by qualifying solvent employers. However, the Government has seemed to give with one hand and take with the other this year on pensions as the pre-budget report (P...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension first or last? What the numbers really tell us

Pension first or last? What the numbers really tell us

'Focusing solely on reducing the pension before death can increase lifetime tax'

Joshua Croft
clock 28 August 2026 • 4 min read
IHT on pensions: New thinking on taking income in retirement?

IHT on pensions: New thinking on taking income in retirement?

‘This has undoubtedly had a huge impact on planning for many clients’

Lisa Webster
clock 26 August 2026 • 3 min read
Pensions gender gap: A low-profile injustice that deserves more attention

Pensions gender gap: A low-profile injustice that deserves more attention

'Pensions are one of the few financial products where time is the single biggest driver of outcome'

Jessica Cook
clock 24 August 2026 • 4 min read