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We’ve published our latest strategic plan

By achieving the goals set out in our last strategic plan, we’ve built strong foundations to protect our members going forward. Our 2022-25 Strategic Plan sets out our priorities for the next three years. We've also published our new Business Plan for 2022/23.

Changes to the FAS compensation cap

Each year the compensation cap for FAS members is increased in line with inflation, with changes taking effect from 1 April.

Court of Justice of the European Union judgement - update

Following the judgment of the Court of Justice of the European Union (CJEU) last month, we have started to write to capped members who we believe are affected by the ruling. This is to confirm our records, because we do not have all the data we need to calculate the increase due. We will be writing in tranches over the coming weeks, so members who believe they are affected, but do not receive a letter immediately, do not need to contact us.

Next group of members receiving increased payments

We’ve started to make increased payments to pensioners whose benefits fell below 50% of the value of their accrued benefits because of a combination of the compensation cap and other factors. We’re aiming to increase payments to the majority of pensioners in this group by the end of September 2020.

How our TrainingMark has improved the customer experience

Our customer satisfaction results are currently at 97%, and we continually strive to improve this score. 

Our statement on pre-97 indexation Budget announcement

We welcome the government’s announcement that it intends to change the law to enable the payment of inflation increases on pre-97 pensions to PPF and Financial Assistance Scheme (FAS) members.

Ways we can support members with specific needs

We understand that some of our members may need some extra help from time to time. We have a number of ways we can make things easier for you if you’re living with issues with your physical or mental health.

More Hampshire decisions confirmed

In our recent update about progress on uncapping PPF compensation, we still had to finalise whether to put a six-year time limit on arrears payments due to PPF and FAS pensioners. This followed the Court of Appeal’s judgments on the methodology for implementing the ECJ’s Hampshire decision and the PPF compensation cap. The Department for Work and Pensions (DWP) and our Board have now finalised those decisions.

ECJ judgment in PSV v Bauer

The recent ECJ judgment in the case of PSV v Gunther Bauer has restated that, as a minimum, every individual must receive at least 50% of their accrued benefits.

Next phase begins after ECJ ruling in Hampshire

We’ve previously announced that we’d started making increased payments to all pensioners who were most affected by the Court of Justice of the European Union’s (ECJ or CJEU) ruling, because they were subject to the PPF compensation cap (either the standard cap, or the long service cap), which on its own had reduced their benefits to less than 50% of those they had accrued.