From the Daily Mail
Tony Blair today rejected Tory demands for bigger compensation payouts for thousands of people whose retirement savings were wiped out.

He clashed with David Cameron in the Commons ahead of a Lords vote where the Government faces possible defeat.

The Prime Minister insisted that existing compensation arrangements, which have so far failed to help some 125,000 pensioners, were adequate.

But the Government’s unity was jarred earlier when its own former chairman of the Pensions Commission, Lord Turner, declared that he backed the calls for a more generous system.

Outside Parliament, an elderly man stripped to his boxer shorts in protest at the Government’s stance on the issue. There was no sign of a threatened rally of nude pensioners.

The furore centres on 125,000 people who paid into company pension schemes only to see them collapse. Under complex rules set by ministers, some victims have had 90 per cent compensation and others were offered less.