PRIME MINISTER Tony Blair is hinting the government will provide a rescue plan for those people who have already lost money after their pension schemes wound up.
The Daily Telegraph says Blair told MPs he hoped to come forward "with a solution" to provide a protection scheme for future pensioners who have already become victims of collapsed pension schemes. From next year, the new Pension Protection Fund will safeguard people saving into an occupational pension scheme. However, the government has previously met a lot of criticism over its refusal to include people who have already lost their money in the coming legislation. That may now be a thing of the past as Blair yesterday raised the prospect of a government-backed solution. Whitehall ...
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