UK - The Pension Compensation Board (PCB) has made a capital settlement of just over £2m to the Cheney Pension Scheme following a decision that the assets of the scheme had been reduced by £2.9m due to dishonest acts by the former trustees.
New trustee Independent Trustee Services (ITS), appointed by the Occupational Pensions Regulatory Authority in October 2000, welcomed the £2,376,754 settlement. ITS engaged European law firm Taylo...
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