£56m fillip for mis-selling victims

PENSION providers and independent financial advisers have been ordered to put a further £56.4m into a compensation scheme. The money will go into a fund used to compensate victims of pension mis-selling by companies that have since gone bust, preventing them from reimbursing the policyholders.

The call, by the Financial Services Compensation Scheme, comes just a year after pension providers and IFAs were told to put up £60.6m to cover the compensation bills.