Government 'at Fault' Over Health Workers' (Pounds) 20m Pension Black Hole

Sunday Herald › March 15, 2004

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Summary

Thousands of nurses and other health workers have seen more than (pounds) 20 million wiped off the value of their pensions after the Department of Trade and Industry (DTI) misled the health service executive about the financial strength of Equitable Life.

The DTI was aware the company was nursing a (pounds) 4 billion black hole, but assured health officials that Britain's oldest mutual was "financially sound".

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Extract

Government 'at Fault' Over Health Workers' (Pounds) 20m Pension Black Hole

Lord Penrose, in his 818-page report cataloguing widespread regulatory failure going back over nearly two decades...

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