The £274m Woolworths Group Pension Scheme is set to enter the Pension Protection Fund just over three years after the collapse of its sponsoring employers.
Administrators for the failed high street chain initially approached the PPF in late 2008, shortly after it was declared insolvent (PP Online, 12 December 2008). The wind up process started in August...
Defined benefit (DB) schemes are looking for alternatives to seeking additional cash contributions from sponsors to manage payouts in the wake of the Covid-19 market disruption, according to Willis Towers Watson (WTW).
The Pension Protection Fund (PPF) will look to appoint a new administrator to oversee an investigation into the collapse of Laura Ashley, according to reports.
Down again from March
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
The Society of Pension Professionals (SPP) estimates only 5-10% of scheme sponsors will suspend or reduce contributions during the coronavirus pandemic while majority have no need to alter their payment schedules.