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Pension Payout Delay 'Disgusting'

 

By David Horne

UK

July 18, 2007


THE Witney man leading a campaign over company pensions says he is "disgusted" at further delays in getting a payout.

John Brooks, 68, is one of a handful of former workers at the collapsed Early's blanket factory who has not received a penny.

About 200 others, still of working age, paid into the company scheme and do not know whether they will receive anything.

Yesterday, the Government succeeded, by a 50 majority in the House of Commons, in sinking opposition calls for an immediate "lifeboat" scheme to help an estimated 125,000 former employees across the country.

Instead, Minister for Pensions Reform Mike O'Brien says they hope to create a central fund from the assets of all collapsed schemes and match it with Government money for a 90 per cent payout.

Mr Brooks, who has been treated for leukaemia, said today: "It's the same old story, when is this going to happen? We want action now.

"I'm disgusted. None of us are getting any younger. I've been waiting three years, how much longer do I have to wait."


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