James Purnell, Minister for Pensions Reform, has announced a funding review relating to the Financial Assistance Scheme (FAS) with the aim of discovering ‘whether better use can be made of assets in winding up pension schemes and whether other sources of non-public funding, which have not already been allocated, could boost assistance levels further’. The review will be headed by Andrew Young, directing actuary of the Government Actuary’s Department, and will be advised by a panel of leading pensions experts. As announced in the March edition of our Monthly Update, the Government is planning to increase funding for the FAS from £2.3bn to £8bn to enable more affected members to receive assistance from the scheme. For a copy of the press release from James Purnell, see the DWP website at