Pensions Bill

The hon. Gentleman obviously did not listen to my speech. At the start of the PPF process, the scheme and what is owed has to be assessed; thereafter, the process of paying people is quite easy. FAS has made good progress in doing that and we are now in a position to pay people when they apply for initial payments. That is what needs to happen. The Government amendment will guarantee that FAS members will get at least 80 per cent. of their core pension, but through the review we are making a firm commitment to consider other sources of funding. We understand the aspiration of Community and Amicus to achieve PPF-level pensions for their members, but there is still no certainty about the funds available in the failed pension schemes, and until the review is completed it is not possible to give a guarantee, which is what the Tory Front Bench team is trying to do. However, we will consult Community and Amicus throughout the process to ensure that the funds that are available are applied to supplementing FAS to get nearer to 90 per cent. The review will report publicly the initial recommendations by the summer and a series of consultations with Community and Amicus and related organisations will begin immediately.