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Government sets up fund for victims of occcupational scheme collapses

The Government is establishing a £400m fund to compensate people who have lost pension rights through collapsed occupational schemes.

The fund will give phased payments over the next 20 years, with payments reviewed every three years.

Amicus general secretary Derek Simpson says: “The threat of having little or nothing to live on after 30 or 40 years has been lifted by the establishment of this fund.”

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