Question to the Department for Work and Pensions:

To ask His Majesty's Government what steps they intend to take in response to representations made to them by the Pensioners Action Group on behalf of persons now of pensionable age whose sponsoring companies closed in the 1990s through insolvency and who consequently suffered substantial pension losses.

The taxpayer funded Financial Assistance Scheme (FAS) has been operational since 2005. It was set up to award financial assistance to members of eligible defined benefit pension schemes which started to wind up underfunded between 1 January 1997 and 5 April 2005. Since it was established, the FAS has been extended and improved several times, making the financial help more generous and encompassing more schemes and members. Therefore, the Government does not intend to take any steps in response to the Pensions Action Group.