Pension Protection Fund

Speaking after the Pension Protection Fund made its first direct payments to former employees of Chilton Scotland Ltd which closed last year and was based in Girvan, local MP Sandra Osborne said:

“I am delighted that my constituents who worked at Chilton’s in Girvan are amongst the first to receive the protection of the Pension Protection Fund. This was brought in by the Labour Government to make sure that people would never again be deprived of the occupational pension they paid into during their working lives.

I have mixed feelings today because there are still hundreds of my constituents who have lost their pensions and do not come under the protection of the Pension Protection Fund. They are looking to the Government’s Financial Assistance Scheme for help and it is grossly inadequate compared to the protection offered by the PPF. The Financial Assistance Scheme still falls short of providing fairness, efficiency and justice for those others who have lost their pensions through no fault of their own.

The campaign goes on to win for them the same protection being given to the former Chilton employees.”