Financial Assistance Scheme

Work and Pensions written question – answered on 7th June 2007.

Alert me about debates like this

Photo of Jennifer Willott Jennifer Willott Opposition Deputy Chief Whip (Commons), Shadow Minister (Education)

To ask the Secretary of State for Work and Pensions

(1) when the Department expects all those currently eligible to receive funds under the financial assistance scheme and who are 65 years old or over to receive payments; and if he will make a statement;

(2) how much the Financial Assistance Scheme has paid out to members of schemes that wound up before 6 April 2005 with insufficient funds to cover all pension entitlements; and if he will make a statement;

(3) how many people who are eligible to receive funds under the financial assistance scheme are 65 years old or over; and if he will make a statement.

Photo of James Purnell James Purnell Minister of State (Pensions Reform), Department for Work and Pensions

The FAS is currently paying all eligible members of qualifying schemes aged 65 and over for whom acceptable member data has been received. Before payments can be made the FAS Operational Unit is dependent on receiving acceptable data from the trustees, and confirmation of personal details from the member. We are actively encouraging trustees in qualifying schemes to provide data on eligible members as quickly as possible. The FAS will make payments within a month of receiving acceptable member data; there is no backlog of payments in FAS.

The FAS has paid a total of £4,351,024 gross (£3,384,030 net) to 1,166 qualifying members as at 11 May 2007.

Does this answer the above question?

Yes1 person thinks so

No2 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.