UK - Beleaguered US car component giant Federal Mogul has made an 11th-hour offer to avert the wind-up of the pension scheme at its UK arm.
Creditors of the US firm have offered the trustees of the £1bn Turner & Newell Pension Scheme £14m a year for the next three years and pledged to fund it fully on a minimum funding requirement basi...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date