What steps she is taking to ensure that support is provided for former Carillion employees whose pensions will not be covered by the Pension Protection Fund.
21 May 2018
There are 12 Carillion DB schemes in the Pension protection Fund (PPF) assessment period.
The PPF are working with scheme administrators to determine whether they can pay pensions at or above PPF benefits. Where a scheme cannot do this, the PPF will assume responsibility and pay compensation.
Individuals above their scheme’s normal pension age will receive 100% of their accrued pension, and all other members will receive 90%, subject to an overall cap.