Press release

Thousands demand pensions justice

Wednesday 7 February 2007

Thousands demanded the Government play fair and offer pensions justice to the victims of collapsed schemes today.

A petition calling for an effective compensation package for the victims of collapsed company pension schemes was presented to Pensions Minister James Purnell.

Emma Soames editor of Saga Magazine handed over the 12,237 name petition to the Pensions Minister today (Wednesday).

In a separate online survey of 16,700 over 50s, 87 per cent of respondents said that Government had a responsibility to compensate the victims of collapsed schemes.

Saga threw its weight behind the campaign for pensions justice after an article on scheme collapses provoked a huge response from readers. A barrage of letters described financial plight and fears for the future.

Emma said: "This injustice must be righted. The ineffectiveness of financial assistance for victims of collapsed schemes is scandalous.

"The support for Saga's campaign for compensation demonstrates the sheer strength of opinion on this issue. The thousands who have backed our petition are a powerful voice that the Government cannot afford to ignore."


Notes to Editors-

The petition supported by over 12,237 people says:

"The British government has turned down recommendations from both the Ombudsman and the Parliamentary Select Committee to honour its obligation to the 100,000 members of company schemes, who have lost their pensions when their schemes went into liquidation. We call upon the government to honour their often repeated promise that company pensions would always be safe, and to restore these pension entitlements. A gross injustice is being committed; the government is morally obliged to fix it in full and with urgency as thousands of pensioners are suffering great economic hardship now."

The on-line petition has 10,539 signatures. In addition 1,698 people wrote in to support the petition, so the grand total is 12,237. The petition was opened in October 2006.

The Saga / Populus panel was answered by 16,731 people aged 50 and over, between January 12 and 30, 2007.

84% of men and 92% of women (overall 87%) agreed with the statement:

"The Government has a responsibility to compensate people who have lost some or all of their retirement income when it gave then assurances that their pensions were safe and secure."

Saga Insurance is part of the Saga Group, which is the UK's leading provider of products and services specifically designed for people aged 50 and over. With over 2 million customers Saga provides insurance, financial services and holidays and publishes the award winning Saga Magazine.

For further press information please contact the Saga Press Office on: 01303 771529.



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