You are here: Home - Uncategorized -

Ministers attacked over failed pension schemes

Written by:

A report has condemned ministers as being ‘naive’ or ‘misleading’ over the collapse of a number of retirement schemes.

An all-party group of MPs claims that ministers have let down the thousands of people who lost the savings they had built up for retirement when their company pension schemes collapsed.

They say that ministers should be held to account, and not permitted to abandon the victims who have lost significant amounts of money. The group believes those effected are due compensation.

The Government’s refusal to help – despite a ruling from the Parliamentary Ombudsman that it was guilty of maladministration in failing to warn workers properly about the risks involved in the schemes – has only caused those who lost out ‘further distress’, according to a hard-hitting report from the Commons public administration select committee.


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Directors benefit from IHT loophole

Thousands of company directors will be able to pass on assets to their families without paying inheritance tax using a...