date: 17 December 2007

embargo: immediate

Warm welcome for FAS pensions victory

Responding to the Government's announcement on the future of the Financial Assistance Scheme, TUC General Secretary Brendan Barber said:

'This is very welcome news and a real victory for the long union campaign for compensation for the victims of the schemes that collapsed before the Pensions Protection Fund could assist.

'It will be the best Christmas present imaginable for the thousands of workers who lost out, but who can now look forward to some security in retirement.

'Ministers deserve praise for finding the resources to fund this pledge. It now means that every member of a salary related pension fund is protected either by the Pensions Protection Fund or the Financial Assistance Scheme - protection that was resisted by previous Governments.'

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Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (300 words) issued 17 Dec 2007