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TRUSTEES HAVE 6 MONTHS TO MEET DEADLINE

Press Release from the DWP
1st September 2005

Trustees who have not yet submitted information to the Government’s £400 million Financial Assistance Scheme (FAS) now have six months from today to apply. The newly established FAS Operational Unit is calling for all trustees and administrators who think their schemes might be eligible to contact them as soon as possible.

All schemes that have already supplied data are being contacted directly by the FAS Operational Unit and given the opportunity to confirm the details held and provide any additional information required.

Minister for Pensions Reform, Stephen Timms, said:
“We have already made a lot of progress in collating all the necessary information and the notification is the formal step towards being in a position to decide whether a pension scheme is eligible.
“With the FAS Operational Unit now up and running we are looking forward to making the first payments by the end of the year.”

This call for information is aimed primarily at scheme trustees and administrators. Members of schemes who feel they may be eligible should contact their trustees for further information rather than the FAS Operational Unit. Once information has been collated from the trustees, the Operational Unit will then write to all eligible members of qualifying schemes to let them know what payments they can expect.

Trustees should contact the FAS Operational Unit on 0845-6019941 to obtain form FAS A1. This form should be returned by 28th February 2006. Individuals whose scheme have already wound up and therefore have no trustees, can also complete the notification form for their scheme.

Information for individual scheme members is available on the FAS website. This will include details of schemes that have completed notification and which are qualifying pension schemes. There is no need for scheme members to contact the Operational Unit at this stage if their scheme is listed on the website. If it isn’t they should contact their scheme trustees.

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