UK - Mercer Human Resource Consulting has slated a government provision under the Financial Assistance Scheme (FAS) for people who have lost pensions due to their employer's insolvency, denouncing it a "cliff edge" approach and "hugely unfair".
Pensions minister Malcolm Wicks yesterday announced compensation under FAS will only be paid to those within three years of pension age as of May 2004. The FAS will top up, to 80%, any pension prov...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
