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Proceeding contribution from Lord Hunt of Kings Heath (Labour) in the House of Lords on Thursday, 7 July 2005. It occurred during Debates on delegated legislation on Financial Assistance Scheme Regulations 2005.


Financial Assistance Scheme Regulations 2005

That may be so, but it still does not detract from the fact that we have had to make some pretty hard rules on this. I am afraid that commencement at the age of 65 is one of them. On funding, noble Lords have already discussed whether the figure of £400 million is the appropriate provision. It is the best assessment that we have of the resources that are going to be required. Obviously, we will keep that under review, but I can make no promises other than that. The noble Lord, Lord Skelmersdale, asked about the level of contribution from industry that we might expect. We have had discussions with industry. I am not sure that they have been resolved yet, but we are very keen that industry should offer any support that it may consider appropriate to the FAS fund.


Secondary information

Type
Proceeding contribution
Reference
673 c106GC 
Session
2005-06
Chamber / Committee
House of Lords Grand Committee
Subjects
Eligibility Exemptions Insolvency Financial assistance scheme Pensioners Workplace pensions Pensions Payments Pension funds Pension rights
Legislation
Financial Assistance Scheme Regulations 2005
Financial Assistance Scheme (Internal Review) Regulations 2005
Link
View this Proceeding contribution on www.publications.parliament.uk