ITV
ITV offers £31m to support Box Clever Pension Scheme
ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.
ITV given six month deadline for Box Clever funding plan
The Pensions Regulator (TPR) has told ITV and four connected firms that they must deliver a future funding plan for the Box Clever Group Pension Scheme within six months.
ITV reports deficit fall and sells contingent asset for £150m
ITV has reported the net deficit of its defined benefit pension scheme has fallen from £105m on 30 June to just £2m on 30 September.
Five stories you may have missed this week
This week's top stories included the Financial Conduct Authority announcing it would carry out further investigations on defined benefit transfers.
Court of Appeal rejects ITV appeal against TPR in Box Clever case
The Court of Appeal has dismissed ITV's appeal against a financial support direction (FSD) issued by The Pensions Regulator (TPR) in a long-running case over the Box Clever Pension Scheme.
UTV to close pension scheme; Unions demand compensation for members
UTV - the Ulster-based subsidiary of ITV - is planning to close its pension scheme to future accrual in a move it says is necessary to be fair to all employees.
The pension court cases to watch in 2019
A groundhog year kicks off as many of 2018's biggest court cases return on appeal. James Phillips rounds up what trustees should keep an eye on.
EXCLUSIVE: TPR spent £3.1m on external costs in Box Clever case
The Pensions Regulator (TPR) has revealed to PP it spent £3.1m in total external costs for the investigation and litigation relating to the Box Clever pension scheme.
What the Box Clever judgment means for TPR's powers
The Upper Tribunal has ruled in favour of TPR in its long-running dispute with ITV over the Box Clever pension scheme. James Phillips explores the impact of the judgment.
Upper Tribunal rules in favour of TPR in ITV Box Clever case
The Pensions Regulator (TPR) was right to use its powers to seek financial support from ITV for members of the Box Clever pension scheme, the Upper Tribunal has said.
The court cases to watch in 2018
A number of pension issues will be battled out in the courts over the course of this year. James Phillips rounds up the cases to watch out for and the potential consequences for the industry
Five stories you may have missed this week
This week's top stories included The Pensions Regulator naming schemes and trustees for chair's statements failures, and coverage of the final day of the Box Clever case in the Upper Tribunal.
Day nine: Box Clever trustees fall foul of 'reverse moral hazard'
The trustees of the Box Clever Group Pension Scheme committed a form of "reverse moral hazard" by running the scheme on while its participating employers were in administrative receivership, ITV has claimed.
Day eight: Box Clever trustees needed 'intellectual gymnastics' to ignore the PPF
The trustees of the Box Clever Group Pension Scheme made a "perfectly reasonable and right" decision to delay triggering a Pension Protection Fund (PPF) assessment period, the Upper Tribunal has heard.
Day seven: Watchdog's FSD 'does not interfere with human rights'
The Pensions Regulator (TPR) has rebutted an assertion by ITV that its anti-avoidance action in relation to the Box Clever Group Pension Scheme is a breach of the human right to property.
Day six: Trustees 'reasonable' to run Box Clever scheme on once company insolvent
Entering a Pension Protection Fund (PPF) assessment when Box Clever went bust would have "jeopardised" its scheme's ability to secure additional sources of funding, the Upper Tribunal has been told.
Day five: Granada and Thorn 'sold businesses to Box Clever for too high a price'
Granada and Thorn sold their respective TV rental businesses for too high a price, meaning the eventual Box Clever venture was too highly leveraged, the Upper Tribunal has been told.
Day four: Box Clever launch was 'focused on getting as much cash as possible'
Granada and Thorn were mainly focused on the "share of the cake" and "taking out as much cash as possible" when negotiating the launch of the 50:50 joint venture of Box Clever, the Upper Tribunal has been told.
Day three: Box Clever subject to 'autocratic control' of Granada and Thorn
Granada and Thorn were consulted on and asked to approve many of the main decisions made within Box Clever Technology (BCT), a former Thorn finance director has told the Upper Tribunal.
Day two: Box Clever trustees 'held out' for 100% benefits while company was in receivership
The trustees of the Box Clever Group Pension Scheme turned down a number of financial offers in a bid to secure 100% of members' benefits, the scheme's chairman has told the Upper Tribunal.
Day one: Pensions watchdog claims FSD against ITV is a 'barn door case'
The Pensions Regulator's (TPR) attempt to impose a financial support direction (FSD) on ITV for the Box Clever Group Pension Scheme is a "barn door case", it has argued.
Why Box Clever case spells big test for TPR's powers
For the first time, TPR is testing its anti-avoidance powers in the courts in a bid to impose an FSD on ITV. James Phillips explores the implications.
ITV and TPR to continue battle over Box Clever pension support in January
The Pensions Regulator (TPR) and ITV will resume a battle in the courts in January in the first instance of an anti-avoidance case being heard in full by the Upper Tribunal.
ITV's pension deficit almost doubles over 2016
The aggregate deficit of ITV's defined benefit (DB) schemes grew by 86% last year, according to the broadcaster's preliminary results.
