Government’s pensions asistance scheme compensates 13 ex-workers

Just 13 people have been compensated by a government scheme for workers who lost their pensions after corporate bankruptcy, nearly two years after the project was launched.

At least 15,000 of the estimated 85,000 workers, who saw their retirement savings disappear when their companies went bust, are eligible for immediate compensation from the Financial Assistance Scheme (FAS).

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But only 13 former workers – all of them from the failed Allied Steel & Wire company – have received funds from the scheme since it opened last September, reported the Times.

The Department for Work and Pensions admitted that there remained a “considerable amount to be done to ensure that all those eligible for help start getting it”.