Financial Assistance Scheme (FAS)

Resource type: Glossary item

Status: Maintained

Jurisdiction: United Kingdom

The scheme set up by the government to provide financial help for members of defined-benefit (DB) schemes (www.practicallaw.com/0-107-7545) who have lost out because their scheme was underfunded when it wound up. To qualify for help, the scheme's principal employer (www.practicallaw.com/4-201-6479) must be insolvent, the scheme must have started to wind up between 1 January 1997 and 5 April 2005, and members must also meet detailed qualifying conditions. The eligibility criteria are set out in the Financial Assistance Scheme Regulations 2005 (SI 2005/1986) (www.practicallaw.com/7-383-2883). For more information, see the FAS website (www.practicallaw.com/0-385-3789).

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  • Resource ID: 3-207-8953
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