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