UK - Trinity Mirror has announced a £175m (US$350m) share buy-back scheme which will return capital to shareholders as part of the group's large scale reorganisation of its business.
A spokesperson for the Pensions Regulator said the clearance process was often a formality whereby parties seek reassurance that the regulator would not seek to use its powers against them in the future. Due to the sensitive nature of the proceedings, the regulator could not offer any more specific details.
Changes to pension plans across the media have been attracting attention recently. Last Thursday, in a Parliamentary Early Day Motion, Austin Mitchell, MP (Labour) for Grimsby, criticised publisher and distributor Newsquest for undermining the integrity of its pension scheme by forcing the savings burden onto its 9,000 members despite posting a profit of over £120m (US$240m) last year. The motion was supported by a cross-party group of 30 MPs.
There is still time to make your nominations for the PP Women in Pensions Awards 2018. Find out more here…
The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.