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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Scheme Member | How secure is my pension? | What is the Financial Assistance Scheme?
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What is the Financial Assistance Scheme? .gif)
There are more than 125,000 people who have lost significant amounts of their pension benefit resulting from their pension scheme being wound-up and unable to secure full benefits for the membership.
The Government set up the Financial Assistance Scheme (FAS) which will help some of the scheme members who have suffered when their defined benefit schemes wound-up between 1st January 1997 and 5th April 2005. It will top-up the pensions (up to a maximum amount) of those members whose schemes would be unable to pay the whole of their pension due to the insolvency of the scheme.
But the FAS has limitations. These are detailed in our Factsheet What is the Financial Assistance Scheme?
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To find out more, choose one of our free Factsheets on the right to match your category of membership.
Not sure which category of member you are? See our definitions:
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See our Glossary for definitions of phrases in our Factsheets
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This Factsheet is not yet available to members of Money Purchase schemes
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