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Last Updated: Friday, 14 May, 2004, 14:20 GMT 15:20 UK
400m fund for pension losses
Pensions Secretary Andrew Smith
Pensions Secretary Andrew Smith unveiled the plans on Friday

BBC Radio 4's Money Box was broadcast on Saturday, 15 May, 2004, at 1204 BST.

The programme was repeated on Sunday, 16 May 2004, at 2102 BST.

The government has announced it will set up a fund of 400m to help the tens of thousands of people who lost all or some of their pensions when their firms went bust.

An amendment to the Pensions Bill will enable the compensation deal to go ahead.

Have Your Say
What do you think of the deal?
Have you lost money this way?
Will it be enough to compensate everyone properly?

Key ministers and workers' representatives had been in talks for several days in an effort to arrive at an agreement.

Unions representing affected workers have welcomed the move, calling it a "victory for pensions justice and trade unionism".

But will 400m be enough money to properly compensate the many thousands of people who have lost out?

We heard from affected worker Willie Riggans and spoke to pensions expert Ros Altmann and Pensions Minister Malcolm Wicks.

Producer: Jennifer Clarke
Presenter: Paul Lewis
Reporter: Chris A'Court
Web Producer: Nathalie Knowles

Money Box



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