Only 13 have been money from FAS - papers 24th January

According to the paper, at least 15,000 of the estimated 85,000 workers who saw their retirement savings disappear when their companies went bust are eligible for immediate compensation from the Financial Assistance Scheme (FAS). But only 13 former workers — all of them from Allied Steel & Wire, the Cardiff steel company that went into receivership in July 2002 — have received funds from the scheme since it opened last September. This is despite an admission in June 2004 by Andrew Smith, the Work and Pensions Secretary at the time, that the 85,000 workers were suffering “terrible anxi...