Government to review FAS - papers 16th March

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A REVIEW OF THE government's £400m fund to help victims of company pension scheme wind-ups is to be brought forward amid mounting anger over ministers' refusal to accept responsibility for the losses, reports The Financial Times .

According to the paper, John Hutton, the work and pensions secretary, will try to secure a boost to the Financial Assistance Scheme (FAS) within months rather than waiting until next year's spending review to find more money for tens of thousands of people who have lost pension benefits. An announcement could be made alongside the government's white paper on pensions reform in early summer but unless billions of pounds are added it is unlikely to satisfy campaigners, who say the FAS is woefully inadequate. The move follows a damning report by the parliamentary ombudsman, who found the g...

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