Debenhams has missed its April deficit recovery contribution (DRC) to its staff pension schemes as the struggling high street retailer files a notice of intent to appoint administrators amid the Covid-19 crisis.
The ailing department store chain today (6 April) confirmed it would appoint administrators to protect itself from the threat of legal action from creditors, which it said could have forced the business...
Pensions schemes with sponsors facing severe economic difficulties due to Covid-19 must prepare for the lifting of temporary protections from corporate insolvency at the end of the year, Aon says.
Lady Tina Green has agreed to pay a £50m deficit recovery contribution (DRC) to Arcadia’s pension schemes earlier than scheduled.
Scheme funding in the defined benefit (DB) universe has worsened, but the Pension Protection Fund (PPF) remains confident it can tackle the challenges ahead, it says as it launches its 2020 Purple Book.
Debenhams’ pension schemes are continuing in Pension Protection Fund (PPF) assessment after administrators failed to rescue the company from collapse.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the November 2020 estimates on the various measures…