Saga today hailed the court success of the pensions campaign as a triumph of "common sense and common decency over injustice".
The travel and financial services company for the over 50s demanded ministers devise a comprehensive compensation package for the victims of failed schemes following today’s High Court judgement.
Saga has campaigned vigorously for justice for the thousands who found their hopes of secure retirements smashed when their company pension schemes collapsed. The company committed its support after an article on scheme collapses provoked a huge response from readers.
Just two weeks ago Saga editor Emma Soames presented a petition signed by more than 12,000 readers of the magazine to Pensions Minister James Purnell calling for effective compensation.In a separate poll of over 50s, 87 per cent of respondents said that Government had a responsibility to compensate the victims of collapsed schemes.
Saga Director Tim Bull said: "This is an historic day. The Court has ruled that the Government cannot simply dismiss with impunity the findings of the Parliamentary Ombudsman. Common sense and common decency have triumphed over injustice.
"The government must now act urgently to put in place an effective compensation package to give the victims financial security and peace of mind.
"Our customers and readers have spoken with a powerful voice – the court has ruled. The Government can no longer afford to ignore the strength of opinion."
For further press information please contact the Saga Press Office on: 01303 771529.