Cameron must sort out the PMS
THE Presbyterian Mutual Society saga is lingering towards the end of a second year and the patience of the 9,500 savers is fast running out, as a result of the failure by government to resolve the impasse.
With a change of government, there were high hopes that Prime Minister David Cameron and Secretary of State Owen Paterson would get around the cash-flow problems that have beset the society and caused undoubted financial hardship for savers.
Former Presbyterian Moderator the Rev Dr Stafford Carson, leading church efforts for proper redress, has now made a plea to David Cameron to live up to his pre-election pledge "to ensure a just and fair resolution of the PMS issue."
On a pre-election visit to Belfast, Mr Cameron appeared to make a firm pledge on the PMS issue. He emphasised: "We're all in this together, you've done the right thing, and you deserve for that to be recognised and rewarded."
Regrettably, there have been no clear indications since that the government is prepared to live up to these promises, thus the frustration, irritation and, in some cases, anger among PMS savers that their pleas are going unheeded. The ongoing deadlock is taking its toll on those concerned, many of whom are older people.
Dr Carson says only the removal of the discriminatory treatment suffered so far by PMS savers and giving all of them early access to 100 per cent of their money can be regarded as "just and fair".
He suggests that a PMS take-over by a substantial financial institution must be examined.
Whatever its shortcomings so far, government must play fair by the PMS savers and act with some degree of urgency and integrity to end the turmoil.
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Tuesday 14 February 2012
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