FAS 'woefully inadequate' - Altmann

Her comments come in response to draft regulations published by Government in April. The FAS, which carries a £400m purse over 20 years, has been set up to aid pension schemes which commenced winding up between 1st January 1997 until the introduction of the Pension Protection Fund. Altmann, an independent adviser to the pensions industry says: “This Financial Assistance Scheme will not rectify the injustices suffered by tens of thousands of people whose pensions have been denied to them on scheme wind-up.” She believes the £400m on offer is ‘woefully inadequate’ to fund a proper compe...