Monarch collapse leaves yet another Pension fund up in the air
Monarcha��s owner, Greybull Capital, said it had been talking to the Pension Protection Fund (PPF) since 2014 and had not taken out loan repayments, dividends or interest in the past three years. Furthermore, Greybull said it expected a A?7.5m loan note from Monarch to the PPF to be repaid in full.
But the PPF is creaking under the weight of final-salary schemes that have discovered their sponsoring companies can, for whatever reason, no longer support them. Today UK final-salary pension schemes have A?1.6TRILLION (!) of liabilities and a A?224 BILLION (!) deficit. Worryingly, the deficits of the worst-affected schemes are only getting into deeper trouble.
I know I have said it before, but I must say it again, if you (or someone you know) has a a�?frozena�? Pension from previous employment in the UK; you MUST consider transferring it before it is gone altogether and too latea��a��a��a��a��a��