Peter Hain, Secretary of State for Work and Pensions, has announced a new package to help up to 140,000 people who lost savings when their employer-sponsored pension schemes collapsed.
The announcement was made alongside the publication of the Young Review, which has been commissioned by the government to look at ways of generating additional value from the failed pension schemes.
The report by Andrew Young, government directing actuary, said that if the residual assets in failed pension schemes totaling more than £1.7bn were brought into government control it would be possible, with an additional top-up by the government, to meet the demands made by trade unions and campaigners for the workers who lost their pensions.
Hain said: “I’m delighted that we are able to announce a settlement that will provide justice for the 140,000 people affected when their schemes were wound up, including members of schemes where the company is still solvent. This builds on the substantial steps we’ve already taken to put right the unfairness they experienced.
“We believe this represents a just and final settlement – bringing the total commitment to £12.5bn in cash terms or £2.9bn in net present value terms. Although the government has been criticised over this matter, there are huge amounts and it is right that we have been able to maximise the return from residual assets in the schemes which collapsed so that the public purse has had value for money too.”
The Financial Assistance Scheme will be extended so that – among other measures – all scheme members will be guaranteed 90% of their accrued pension at the date the scheme began wind-up, which will be subject to a cap of £26,000, the value of which will be protected.
Also, assistance will be paid from each failed scheme’s normal retirement age, subject to a lower age limit of 60 years. People who are unable to work due to ill health will also be able to apply for early access to payments from age 60 years. Members will be able to draw a tax-free lump sum, up to their full sum entitlement, if their share of scheme funds allows and help will be extended to members of schemes wound up by qualifying solvent employers.
Look up at
I the having been recording feel keenly a dynamic title most for me at a time.
Primary school grade four of one section athletics lesson, the teacher is divided into 2 brigades of New Chilliwack Bomber Canada Goose 2015 Sale Online Up to 50 Off whole class classmates to run to connect a dint match.We the tall fellow classmate of one brigade all the confidence Be hundred percently crowded to stand to the front, I am lined up at end.
When I receive stick, anterior of the classmate have already outrun another classmates a , everyone thinks victory in control, just and jubilantly acclaim write.Who know the beginning of big disease more of I not only runs slowly, but also not and lightly not the important precincts trip and fall down and throw the victory fruit coming to hand to other people.When I stumble the ground run to the terminal point, everyone scolds me“Is really useless!”“Because you just lose!”“And you one brigade is really unlucky!”
I ashamedly squat down on the ground and contain in eye ashamed and the tears of injustice, title looking at an athletics teacher, the in the mind think that the teacher will also criticize me two.
Teacher simultaneously by hand daut my head, signal hint me to stand up with the moderate vision, simultaneously blow whistle to shout:“The classmates, stand good brigade& hellip;…”The teacher Hong’s bright voice rings in my ear up to now:“The key to game isn’t a gain or loss& middot;·····Everyone expresses very well today……”
Look up at a teacher, a moment meet with teacher’s vision, I knew to spare no effort with all strength but can not the failure succeeding isn’t fault.
All saying that the modern people live rhythm is quick, can people are mostly living at connect mosquito, flies are all hard with enter with the cement wall of, even if come out, eyes must stare at the road of tight foot, the toe follows the other people’s heel and fears to trample other people and fear be touched by the other people, each nerve stretches tight tightly.Occasionally station at three fan Mang think of and urgently and mostly money of the Zheng Be not enough to spend.Usually whole bodies are all surrounded in seven colourful neons but be in need of a heart light.
The person should usually look up at, look up at New Canada Goose Edmonton 2015 Sale Online Up to 50 Off a tree, one cloud, a mountain and look up at star sky;Look up at a dawn;Look up at tomorrow;Look up Sale Discount Buy Canada Goose Canada Outlet Online at love;Look up at hero;Look up at justice& middot;····
Looking up at a tree is no matter to spend a full branch, be still light bald Chi;No matter is a sharp sharp new bud, still an again and again large fruit, can move people, is more touched than love of a tree to the earth, to the loyalty of the season.
Looking up at one cloud is no matter a solitary list of a , still continuous a big slice of;No matter is quiet quiet sleep soundly, or rush to flow out with the breeze, can let people’s regrets, the regrets faces changeable prospect at one cloud, return ability thus serene natural and unrestrainedly adornment the sky.
Look up at a mountain, see the Wei E of mountain, will make people produce one kind& ldquo;The Yang head desire climbs to lower the head to do obeisance”Of move Zhong, this kind of solemn awe will let the heart Wu& mdash;—The life can not float to want to unite Pian, the life should stand on solid ground.
Look up at star sky, the moon came of the night stars came, the moon didn’t come of the night stars also came, many starses always were looked at with constantly deep feeling ten thousand to change of world, too many starses destining is unknown, unknown of I whether also need not sorrow?Star such as me, I am like star, desire, crazy rashness, annoyance also immediately downplay to eliminate to melt, leaves a lucid and attractive light and shadow.
Look up at a dawn, it is the midnight of early spring to ignore, still deep autumn of five more;No matter the frog that is listenning to hot summer sings a cicada to blare, or only stays by the side a sever winter of desolate have no voice, can let before down people concussion with courageously enter, because only pass the thennest chill and the darkest time tunnel can turn over a new page of opening the life.
Look up at tomorrow, no matter is an upward youth every day, still the old man of Cang pallor hair;No matter is the great man that the myriad people admires, still so-so any any of common man, all worth tomorrow look forward to.Tomorrow of oneself can infinite extension, can at the ability the abyss of time of none of anyones.
Look up at love, the love not necessarily is a gold, can not stand an assaying stone, can at at the same time cherishing of the exclamation predestination.But the love must be a flame, the ability is blown to put out, can be sparked as well, as long as constantly adding a firewood pay raise, will more burn more prosperous, will make people constantly harvest and project warmth and intense emotion.
Look up at hero, the hero is a person, but the person is very few number is a hero, live an inside don’t so let people more to become heroic opportunity as well.But unfathomable life and the world changing more needs heroic existence at any time, everybody should look up at hero and let to develop in own bone blood and incubate heroism.
Look up at justice, the fist of justice can fight the whole crimes.The justice can shake Zhe in the chest shameless, the justice not only make people unselfish fearless, but also can let people clear in meaning right and wrong, forgive some don’t lose a responsibility have never disobeyed the fault of conscience as well.
Look up at the greatness of parents’ kindness;Look up at the nobility of ancestry civilization;Look up at the turns and twists hardships& middot of history long river;·····At look up at of let heart and the sky have a conversation and have a conversation with mountain and stream and have a conversation with future······See afar of deep;See the amplitude of world······No longer weak narrow, no longer be full of remorse, no longer inhospitality selfish, no longer consider as correct, no longer we ox horn point, no longer from sweet drown.
Develop a habit of looking up at, usually come out Gao Qiang Si’s wallses, seek a momentary half to engrave the place that can’t push other people as well as be pushed by the other people, the title scans widely, can see work to see much Gao more, can hope how far hope how far, inattentive think what, inattentive do what, look up at, discover life of humblely will also discover soul at the same time of great;Looked up at, saw ownly and infinitesimally also know how to support heart at the same time of highly respectable.