conservative pension compensation plans criticised as uncosted by building society trade body
Conservative proposals to use unclaimed assets in bank and building society accounts to compensate people disadvantaged by pension scheme insolvencies are uncosted policies, according to the Building Societies Association (BSA) The BSA said that, based on initial studies, it estimates there is about £33m held in unclaimed accounts within the building society sector, a fraction of the £15bn often quoted in the press and by politicians. This £33m figure is based on the Irish model, under which assets are designated unclaimed if an account has not been accessed for 15 years. Adrian Coles,...
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