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Pensions Bill

The Minister is on the important subject of costs, and he makes the point that it would cost £640 million, net present value, to provide PPF-level benefits to people who have an entitlement under the FAS. According to written answers received by my noble Friend Lord Oakeshott in the House of Lords, that would amount to £25 million a year for the next 10 years. To the victims of the occupational pension schemes that collapsed in so awful a manner, that seems a relatively small amount of money to pay to ensure that they get a fair and just level of benefit.