The
pensions compensation fund will mean most people who have lost out on their
pension will get ‘peanuts’ from the Government, according to the T&G union.
The
Government announced a pensions compensation fund of £400m over 20 years in
May. However, the union claims this only equates to 96p a day for each of the
60,000 workers who lost their pensions when their companies went bust.
Tony
Woodley, T&G general secretary, said: "We will be speaking to
ministers to ensure that more money is injected into the fund so that everyone
who has been cheated out of their pension will be compensated.”
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He
suggested extra funds be raised by placing a windfall tax on excessive bank
profits.
