Dr Brian Iddon MP urges eligible constituents to take advantage of the Financial Assistance Scheme

16th April 2007

Dr Brian Iddon today called on his constituents who have lost their pensions to check whether they were eligible for help from the extensions to the Financial Assistance Scheme made in last months Budget.

Dr Iddon said,

“I would encourage anyone whose pension was affected when their employer was declared insolvent to speak to Financial Assistance Scheme to check whether they are now eligible under the new terms proposed in the extensions.”

The extensions announced to the scheme in last months Budget, according to figures from the Department for Work and Pensions, should ensure that the estimated 125,000 people who lost their pensions between 1997 and 2005 will receive at least 80 percent of their expected pension.

Dr Iddon continued,

“I very much hope that these extensions will enable more pensioners to look forward to more secure retirement and I would encourage my constituents to contact either the Financial Assistance Scheme or their pension scheme administrators to ensure they are not missing out on these new provisions.“