Pensions Update

A cross-party parliamentary select committee has given resounding support to the Parliamentary Ombudsman's report published in April this year which found that Government maladministration had misled thousands of pension scheme members about the adequacy of the Minimum Funding Requirement.

The Public Administration Select Committee (PASC) agreed with every aspect of the Parliamentary Ombudsman's finding of maladministration and accused the Government of providing deficient and misleading information to pension scheme members. The PASC reiterated the Ombudsman's recommendation for the Government to provide adequate compensation to those who were affected by misleading official documents and subsequently lost a significant proportion...