ASW Aid Scheme Costs £1.1m More to Run Than It Has Paid Out

December 18, 2007 12:00 AM

Today, Jenny Willott released figures revealing that, even though the Financial Assistance Scheme (FAS) has been running for more than three years, it has still paid out less in pensions support to ASW workers and others than it has cost to run.

The figures, revealed in answers to Parliamentary Questions from Miss Willott, show that in total, the FAS has paid out £10.2m to over 3,200 victims of the occupational pensions saga, it has cost £11.3m in running costs.

Commenting Jenny said:

"These figures underline just how ridiculous the Government's behaviour has been over the last three years and how important it is that the new fairer pension deal is setup quickly and run efficiently.

"It is now three years since the FAS was setup, and it has still cost more to run than it has paid out to victims of the occupational pensions saga.

"If the Government had provided a fair pensions deal in the first place, much more badly needed money would have been paid out by now and over 100,000 hard-working and honest people would have been spared the huge stress and anxiety they have been put through.

"The campaign for pensions justice has been a hard fought and hard won. I applaud the efforts of everyone involved, especially former ASW workers who have led the campaign from the front.

"The Government must ensure that the inefficiencies that plagued the FAS when it was first set up do not return under the new and fairer pensions deal. I look forward to seeing future figures showing far more money being paid out to pensioners than is being ploughed in to run the scheme."

Jenny Willott MP will be tabling the following EDM applauding the work of Campaign of Pensions Justice:

Campaign for Pensions Justice

That this house warmly welcomes the Government's announcement, set out in a written statement on 17th December, to guarantee assistance under the Financial Assistance Scheme for 90% of people's expected pensions; applauds the work of everyone involved in the fight for pension justice, especially the Pensions Action Group; urges the Government to bring forward the new measures without delay and to ensure they are implemented efficiently so that eligible members can start to receive their new of entitlements as soon as possible.

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