compensation

The Government is to consult on new laws to protect savers' money and to prevent banks from going bust it was announced today.

Pension campaigners have expressed their delight at the House of Lords support for the establishment of a pension protection lifeboat fund.

Changes to the Financial Services Authority's Conduct of Business rules, known as NEWCOB, could require companies - including IFAs - to offer compensation to clients on a proactive basis, claims Reynolds Porter Chamberlain.

The Public Administration Select Committee has further boosted the campaign to compensate 125,000 workers who lost their pensions when their schemes wound up, by stating recent government concessions "have not gone far enough".

Equitable Life victims should be fully compensated by the UK government, according to a Conservative MEP.

Around 35,000 consumers have been given the green light to make compensation claims against a fund management firm two years after it went into administration.

James Purnell, Minister for Pensions Reform, has announced further details of the funding review which will look at ways to increase the assistance given to workers who lost their pensions when schemes closed under-funded.

Scottish Life is making a final plea for former members to come forward and claim around £7.5m of payments resulting from its demutualisation in 2001.

An amendment to the Pensions Bill is being tabled which could force the government to create a "lifeboat" fund financed by dormant accounts, to compensate pensioners who lost their retirement incomes through pension scheme wind-ups.

Pension campaigners have pointed out the extra money earmarked for the Financial Assistance Scheme in the Budget will only increase the total of the fund to £1.9bn, not the £8bn stated by Gordon Brown.