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Financial Assistance Scheme

The Financial Assistance Scheme (FAS) is a British scheme under the UK welfare system, that offers help to members of eligible schemes who have lost out on their pension either because their employer became insolvent between 1 January 1997 and 5 April 2005, or is solvent but under a "compromise agreement" and no longer has to meet its commitment to pay its debt to the pension scheme.

Funding
It is funded by scheme assets and an estimated £1.9B of taxation and is managed by Board of the Pension Protection Fund (PPF), established by the Pensions Act 2004 which is accountable to Parliament through the Secretary of State for Work and Pensions. ==References==
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