Nov 30, 2020
Is my pension ruined if a retail empire crumbles?
A new owner may take on the pension scheme, or - in many cases - certain types of pension scheme go into a rescue scheme called the Pension Protection Fund. The PPF promises to pay your pension in full, if you are already receiving pension payments. For people yet to receive their pension because they are too young, or those who have retired early, the PPF only pays 90% of their pension promise when they hit pension age. There are an estimated 10,000 people with defined benefit pensions from Arcadia - the majority in the Arcadia Group Pension Scheme and the rest in the Arcadia Group Senior Executives Pension Scheme. At present, the pension scheme does not have the money to pay all future pension obligations.
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