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  • Saturday, March 25, 2006

    Labour MPs call for compensation for 85,000 pension scheme members

    Today's Independent reports that 27 Labour Party MPs have called for Blair & Co to compensate 85,000 members of pension schemes, who lost money when their employers went bankrupt. An 18 month investigation found that Blair & Co were guilty of "maladministration", and that these people should be compensated, but Blair & Co refused to act:

    Ms Osborne received the backing of more than 100 MPs two years ago when she led a similar assault against the Government on pensions, eventually helping persuade it to establish the Financial Assistance Scheme (FAS), which provides compensation for a small minority of those who lost their pensions.

    She now hopes to generate as much support again. "The focus is to put as much pressure on the Government as possible, especially in light of the Ombudsman's report," she said.

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