Fears raised by Brighton and Hove MPs over savers’ compensation (From The Argus)
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Fears raised by Brighton and Hove MPs over savers’ compensation
7:00am Saturday 16th June 2012 in News
Policy holders’ fears over compensation with collapsed savings firm Equitable Life have been raised by MPs.
More than 1,000 savers in Brighton and Hove lost thousands of pounds each when the life insurance firm collapsed in 2000.
Last year the Government announced that £1.5 billion in compensation over three years would be set aside for policyholders.
But with the compensation deadline of June 30 looming, a number are concerned at the amount of money they will receive.
Brighton Kemptown MP Simon Kirby and Hove MP Mike Weatherley are among 127 MPs who have signed a letter outlining concerns to the Treasury.
Comments(3)
Morpheus
says...
9:18am Sat 16 Jun 12
Retired Loon in Brighton
says...
12:00pm Sat 16 Jun 12
Morpheus wrote:The government appears to have put in place a simple enough solution.
This is only the tip of the iceberg. The government cannot keep on bailing out failed financial organisations. Most pension funds are in deficit. What are they going to do when they start to fail?
1. Getting people to work just a few more years drastically and disproportionaly reduces their lifespan.
2. Gradually winding down the NHS scheme will also get people dying younger - paticularly working class scum doing manual labour.
3. Force the aforementioned working class scum to pay into pension schemes from which they have no real chance of recouping anything (so that there's eventually enough money in the pot to cover the kind of pension deals that MPs voted to give themselves).
NickBrt says...
9:15am Sat 16 Jun 12