Saturday, May 14, 2011

Your pension? Sorry mate, not part of the package.

Regulator investigates pension loophole

The Pensions Regulator and the Pension Protection Fund (PPF) raised the concerns following HIG Capital’s acquisition of Silentnight, the UK’s largest bed manufacturer.HIG, which owned Silentnight’s debt via its subsidiary Bayside Capital, called in the administrator after the PPF refused to accept a deal from the private equity firm to the pay the Silentnight pension scheme at a rate of 6p in the pound compared to 65p offered to trade creditors.

Posted by sibley's b'stard child @ 09:32 AM (1230 views)
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One thought on “Your pension? Sorry mate, not part of the package.

  • There are no such things as conspiracies, even if all events keep on favouring the few.

    It’s just pure good luck.

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