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The Chancellor has confirmed that the insurer near collapse victims would receive compensation for a total of ￡ 1. 5bn - that had been proposed by an independent investigation led by Sir John Chadwick. With profits annuitants will receive compensation "in full", he said.

"It is time to repair harm," said George Osborne. "[I accept the conclusions of the Parliamentary Ombudsman who concluded that regulators had repeatedly made fairer errors] complete." I accept recommendations from Sir John Chadwick on the amount of the indemnity to be paid."Sir John had suggested a figure of 400 m ￡-￡_500 m.

Mr Osborne said with-profits annuitants were worst affected by the problem of the fair that they had taken his retirement and do nothing to their situation.He said that the Government should cover the total cost to top up their income to what they would have received another insurer.

It was feared that benefits such as free eyes, orders and TV Licensing, testing as well as help on winter fuel bills should be discarded, but the Chancellor said that all could be conservés.Par cold weather payments will be made permanent.

The fee must be frozen at its current level of ￡ 145.50 for six years.

The Chancellor has confirmed that the Government will provide 200 m ￡ (25 m ￡ cash and a $ 175 million loan of ￡) Presbyterian mutual society collapsed in 2008 because of 10,000 money investors.

LOSERS

Anyone in the workforce who is not close to retirement should work more longtemps.Bien it was already known, the Chancellor has confirmed "acceleration" of the increase in retirement age .the ' retirement age State would be raised again by 2020 for men and women, 66 there dit.Les changes affect particularly those aged 50 to 57.Si you are older than 50, you were already in line to retire at least 66, while those 58 years or more must retire before these changes take effect.

Half a million workers in the public sector is likely to lose their jobs and officials will have to pay more towards their pensions.

It will enable railway to rise sharply - rates Mr. Osborne, stated ceiling regulated rates which are generally paid by commuters, change 1pc more retail 3pc more detail in 2012.

Chancellor described the generous pension scheme for members as "unsustainable" and said he would have at the end.

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