The protest will start at 4pm and will continue through the night until 10am on Wednesday morning.
As part of the demonstration the group will deliver a letter to the Prime Minister and the Chancellor asking why they are still waiting for financial assistance. The group says they will demand to know what action the Government will take to compensate those who lost their company pensions.
Earlier this year, the Government set up the Young Review to identify whether it can find more money to put into the Financial Assistance Scheme, without much burden on taxpayers.
The group says it is holding this vigil ahead of the Young Review report to warn the Prime Minister “not to try to get away with any more spin and deceit over this issue”.
Ros Altmann says the Government has already admitted that it only needs around £20m a year to improve the Financial Assistance Scheme payments to the levels paid by the Pension Protection Fund.
She says: “If the Prime Minister really wants us to believe he will listen to the will of the people and the authority of Parliament, then he must immediately agree to settle this scandal properly. So far, he has refused to admit any responsibility for his pension failures and has refused to comply with the rulings of the Parliamentary Ombudsman, Parliamentary Public Administration Select Committee and UK High Court Judicial Review.”