UK - Pensioners who saw their company pensions disappear will be confronting Labour ministers at their annual conference tomorrow in Bournemouth.
The protest is to be attended by pensioners who have seen their retirement provision lost by former companies and aim to step up pressure on the Prime Minister to provide a proper compensation package.
The meeting is to be addressed by former pensions adviser to Tony Blair, and now independent pensions adviser, Dr. Ros Altman.
Altman said: “They are good people, who have done nothing wrong. How can Britain treat them like this? Government has gone terribly wrong on this one and it must right this wrong now, before any more die in despair or end up in intensive care with stress-related illness.”
Chris Grayling, shadow secretary for work and pensions, added: “We hope taking the battle to get them a better deal right to the heart of the Labour conference will convince ministers that they really have to act to start helping these people straight away. Gordon Brown just can’t keep ignoring the issue.”
According to Conservative Party estimates, more than 100,000 pensioners face a bleak time in retirement following the collapse of their schemes.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.