Falkirk West MP, Eric Joyce, has welcomed plans announced by the Secretary of State for Work and Pensions, Rt Hon Alan Johnson MP, to assist constituents who have lost their pensions through employer insolvency.

The Government included plans for its Financial Assistance Scheme in last years Pensions Act and is now putting the scheme in to practice to ensure that those people who have already lost not only their jobs but also their pensions through employer insolvency will receive additional help from Government.

Those workers who were closest to their scheme pension age when their employer became insolvent have had the least chance to start again and build up new pensions and it is those people that the Government will initially be targeting with assistance.

Speaking today, Eric Joyce MP said

‘It’s only right that we help those who have lost most from their pensions through employer insolvency and I’m delighted that the Government is proceeding in this way.

With some 400 schemes nationally whose members are potentially eligible for assistance, I’m sure that there are some of my constituents could benefit from this scheme and I’d like to urge anyone who thinks that they may be eligible to contact me should they need further information or help with the application process.’