Timms defends Brown pension raid - papers 10th February

Speaking at the Confederation of British Industry (CBI) Scotland Pensions Seminar in Edinburgh, the Minister for Pensions Reform added that Chancellor Gordon Brown's move in 1997 to remove the £5bn tax credit was having less effect as schemes changed their investment mix. According to the paper, Timms refused to be drawn when asked if the Government's offer of £20m a year for 20 years into the Financial Assistance Scheme, set up in 2004 to compensate workers who have lost all or most of their pension entitlements, was a good response to the eight-year raid on pension arrangements. He ...