View more on these topics

Government to amend legislation for failed pension schemes

The Government plans to amend legislation which prevents pension schemes which failed before the Pension Protection Fund was established receiving compensation.

A DWP consultation launched on Friday reveals plans to extend the qualifying conditions of the Financial Assistance Scheme to allow members of failed schemes, such as the George and Harding pension scheme, to be covered by the regulations.

Pensions minister Steve Webb says: “It is unfair that George and Harding scheme members fell outside the pension protection regime.

“That is why we are taking action to change the FAS rules and ensure that these people get the help they need.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm