Pensions: Financial Assistance Scheme

(asked on 15th March 2024) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, if he will make an estimate of the cost of uprating pensions payable through the Financial Assistance Scheme to the same level as those payable through the Pension Protection Fund.


Answered by
Paul Maynard Portrait
Paul Maynard
Parliamentary Under-Secretary (Department for Work and Pensions)
This question was answered on 21st March 2024

The indexation rules for the Pension Protection Fund and the Financial Assistance Scheme are the same. Payments based on benefits accrued after April 1997 are increased in line with the Consumer Price Index, capped at 2.5 per cent. There is no award of increases on payments based on benefits accrued before April 1997.

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