Cross-party grab for dormant accounts

Cross-party support for the amendment has been presented, among other MPs, by David Cameron, Frank Field, Alan Simpson, Menzies Campbell, George Osborne and Philip Hammond which means “it looks as though the Government is about to be forced to properly compensate the victims of pension scheme wind-ups” says pensioner campaigner Ros Altmann. More specifically, the amendment calls for Financial Assistance Scheme payments to be increased to the same level as the Pension Protection Fund levels. But rather than ask taxpayers to cover the cost of the additional cost, the Lifeboat fund will init...