Monday, 17 December 2007

Secretary of State makes major pensions statement or does he?

I never expected the blog to set the world alight but a comment or two would be appreciated. After my comments yesterday about support for lost pensions the Sec of State for work and pensions announced today that the FAS is to be extended to allow up to 90% of lost pensions to be paid. This is good news for all those pensioners who lost their pensions but rather mean I feel and patronising. If they can bail out a bank they should bail out pensions to 100% including the inflation linking which the PPF does not do. I expect the devil is in the detail again so I have asked my MP to ask the Sec of State to clarify what is actually being offered and when can pensioners expect to get payments. Before Christmas I hope.

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