The Department for Work and Pensions (DWP) has announced an extension to the insolvency deadline under the Financial Assistance Scheme (FAS).

The extension has been granted following representations from the trustees of a number of pension schemes to the Secretary of State and will now last until August 31st 2007.

Under the terms of the extension, members of qualifying occupational pension schemes are entitled to financial support.

"[I] intend to extend the cut-off date for insolvency events to 31 August 2007," said James Purnell, minister for pensions reform.

"I will bring forward any appropriate amendments in due course," he added.

Entitlement is conferred to occupational schemes winding up in an under-funded state between January 1st 1997 and April 5th 2005, providing the employer is insolvent.

The DWP caters for a number of differing customer bases, including pensioners, children and the disabled.