Full government response to WPC report on PPF and FAS pre-1997 benefit indexation expected soon
Pensions Minister, Torsten Bell, has written to the Work and Pensions Committee (WPC) on 31 March 2025 regarding their inquiry into pre-1997 benefit indexation within the Pension Protection Fund (PPF) and Financial Assistance Scheme (FAS). The letter confirms that the government is examining the WPC’s recommendations outlined in the WPC report which centre on the legal implications and impacts on defined benefit schemes, levy payers and taxpayers. The Pensions Minister states that a full government response to the WPC report is expected in the coming weeks. The letter also notes that the Minister has also had meetings with affected pensioners and MPs to discuss the issue. The Minister's letter also addressed a parallel inquiry into pensioner poverty, confirming that the Department for Work and Pensions (DWP) has already submitted written evidence for consideration. The Pensions Minister has welcomed the WPC’s work on this related issue, indicating the DWP’s intention to maintain close collaboration with the WPC going forward.