HISTORIC PRESS RELEASE : Slow progress by pension firms in clearing up misselling scandal [August 1997]

The press release issued by HM Treasury on 10 August 1997.

The latest figures showing progress on clearing up pensions misselling were published today by Economic Secretary Helen Liddell.

The Treasury promised in June to publish information each month about the cases handled by the 24 firms with most cases to review.

Releasing the new figures, Mrs Liddell said:

“The July figures show most firms have improved on their June performance – though some have achieved more than others.  I am encouraged by anecdotal evidence of progress on the ground but,   overall, the figures are still disappointing.

“The first small steps that have been made must now be turned into a big step change in all firms’ performance.The next few months will be crucial – all firms must seize the opportunity to demonstrate their commitment and really get a move on in redressing
their victims.

“I will consider what further action is called for once I have seen some further figures to measure progress”.