The Department for Work and Pensions has defended the Financial Assistance Scheme as the best way to compensate those who have lost their pensions.
It has decided to defend the scheme, which has so far, according to the DWP website, only paid 200 members since it began, following the publication of a report by the Public Administration Select Committee (PASC), and calls from opposition parties to accept their responsibility. The report: ‘The Ombudsman in Question: the Ombudsman’s report on pensions and its constitutional implications’ agrees the Parliamentary Ombudsman’s findings of government maladministration are “sound” and recommends the government to implement a generous and speedy compensation scheme. However a DWP spokesman ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes