Hoover to cut ties with pension scheme after RAA approval

James Phillips
clock • 5 min read

Hoover has become the latest firm to cut its defined benefit (DB) pension scheme adrift after The Pensions Regulator (TPR) and Pension Protection Fund (PPF) approved the plan.

The Hoover (1987) Pension Scheme will lose its sponsor after the watchdog granted the firm a rarely used regulated apportionment arrangement (RAA) as part of a solvent restructuring. An RAA is a...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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