Nortel seeks PPF protection

clock

Nortel UK has approached the Pension Protection Fund seeking rescue for its 43,000-member scheme, after the company was placed into administration last week.

The PPF confirmed it had received a S120 notice from Nortel. The PPF said it will analyse the information and decide whether the scheme would enter the assessment period. Ernst and Young, Nortel'...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

CMI publishes latest mortality projections model

CMI publishes latest mortality projections model

CMI data finds increased life expectancies for men and women under new model

Martin Richmond
clock 30 June 2025 • 2 min read
Bulk annuity pricing at 'best level' for two years

Bulk annuity pricing at 'best level' for two years

Aon says more insurers than ever in the market is leading to ‘increasingly competitive’ pricing

Martin Richmond
clock 30 June 2025 • 1 min read
L&G facilitates DB surplus transfers to DC schemes

L&G facilitates DB surplus transfers to DC schemes

Client offer responds to DB surpluses and provides capital redeployment option

Jonathan Stapleton
clock 27 June 2025 • 2 min read
Trustpilot