Financial Assistance Scheme - Review of Scheme Assets
In his letter to Members of Parliament on 23 April 2007 the Minister of State for Pensions Reform, James Purnell, launched a review to examine whether an alternative treatment of the residual funds in affected pension schemes could supplement the committed Government funding of the Financial Assistance Scheme.
Andrew Young of the Government Actuary’s Department led the review and he was advised by a panel of leading external experts, who provided support across a wide range of specialist and technical areas.
You can read further information on the review team members.
You can read the terms of reference for the review.
Final report
The Review’s final report (1.32MB) 
was published on 17 December 2007.
In this final report the Review team look at:
- the value of assets in FAS schemes, their ownership and stewardship;
- potential uses of these assets and whether there are options to increase value;
- simplification of the benefit structure in FAS;
- the costs of FAS;
- other non tax sources of funding; and
- pension schemes that have wound up underfunded with solvent employers.
The Review’s interim report (420KB) was published on 16 July 2007.
