07 November 2006
The Pension Protection Fund says it has rescued the pensions of
43,000 people since it started up in April last year.
The fund's first annual report reveals that 98 schemes applied
to be rescued in its first year of operation, with a collective
deficit of £485m.
Rover, Allders and T&N have been among the firms which have
gone bust, leaving their pension schemes with deficits.
"There is only really one key figure in our accounts," said
Lawrence Churchill, the chairman of the PPF.
"That is that there are 43,000 pension scheme members, currently
within our assessment period, benefiting from the security in
retirement that the PPF was set up to deliver."
