Russian steel firms avoid TPR hearing with £8.5m Carrington Wire settlement

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The Pensions Regulator (TPR) has accepted an £8.5m settlement with the Russian steel maker Severstal over obligations to the Carrington Wire pension scheme.

This comes after the regulator issued a warning notice to three targets in November 2012 over concerns that members would be left vulnerable after Carrington was sold to a shell company in 2010. ...

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