Members from UEF and the Pensions Action Group are calling for the Government to pay them 100 per cent of their Prudential final-salary pension scheme which they lost when UEF went into administration in 2002. The Financial Assistance Scheme pays 90 per cent of a pension with a cap of £29,386.. The Justice for UEF pensions group says Business Secretary Lord Mandelson has agreed to meet with them to discuss the issue.
UEF member Willy Riggans says: “We believe that we deserve the same fairness as the people who invested in Icelandic banks and are getting 100 per cent back. Sir Fred Goodwin and the bankers are getting a guaranteed pension so why aren’t we? All we want is to be treated with the same fairness as others and we will not stop until we get the pension we paid for.”