Bill Amendment Cuts Lifeline for Pension-Fund Victims; the Pensions Bill Once Offered Hope That Those Who Have Already Lost Out in Pension-Scheme Collapses Could Find Compensation, Says Teresa Hunter, but Not Any More

Summary

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Victims of pension-scheme collapses have been dealt another blow. Hopes that a loophole in the Pensions Bill could offer them a route to compensation have been dashed by a blocking amendment.

The news comes in a week in which yet another employer, Mayflower, has gone down nursing a (pounds) 25 million black hole in its pension fund. Administrators Deloitte & Touche said it was too early to say how the collapse would affect the 5000 pension fund members.

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Extract

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Bill Amendment Cuts Lifeline for Pension-Fund Victims; the Pensions Bill Once Offered Hope That Those Who Have Already Lost Out in Pension-Scheme Collapses Could Find Compensation, Says Teresa Hunter, but Not Any More

As the bill was originally drafted, such victims, along with many of the 60,000 who have already lost their pensions, might have qualified for compensation. T...

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