Financial Assistance Scheme (No. 2)
EDM number 1901 in 2005-06, proposed by Derek Wyatt on 27/03/2006.
That this House commends the Government for recognising the problem of occupational pension schemes in deficit by introducing the Pensions Protection Fund and the Financial Assistance Scheme (FAS); notes that the FAS has an initial budget of £400 million; suggests that because this sum is to be used for approximately 85,000 employees and former employees in over 160 schemes the fund will have a substantial shortfall; and calls on the Secretary of State for Work and Pensions to bring forward a final payment solution that will remedy the issue as soon as possible.
This motion has been signed by a total of 24 MPs.
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