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  • Law and Regulation

Nortel scheme to exit PPF assessment with £550m to boost benefits

Nortel scheme to exit PPF assessment with £550m to boost benefits
  • James Phillips
  • James Phillips
  • @PPJamesPhillips
  • 28 March 2018
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The Nortel Networks UK Pension Scheme will boost benefits for members and leave Pension Protection Fund (PPF) assessment, nine years after the collapse of the US-based telecommunications company.

The 31,000-member scheme will use £550m of insolvency proceeds to raise members' entitlements to above PPF-level benefits. The sum forms part of a total £1.2bn which was dragged out of the eight-year...

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