PENSIONS CAMPAIGNERS have labelled the government's plans for the Financial Assistance Scheme "no more than a first step" and suggest more needs to be done to compensate 85,000 victims of wound-up pension schemes, says the Daily Telegraph.
Work and Pensions Secretary Alan Johnson yesterday announced the scheme would pay members of collapsed schemes about 80% of their expected pensions if they were no more than three years from retirement. However, Ros Altmann, independent pensions policy adviser, is quoted as saying: "All credit to the Secretary of State for trying to help these people, but of course we need more money to make the Financial Assistance Scheme meaningful.” NOW MIGHT BE A good time to head to the States for a break it seems, as the dollar tumbled further yesterday and hit $1.9057 to the pound while the eur...
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