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Latest news and guidance on Carillion

Latest news and guidance on Carillion

Carillion is a large business with many companies working under their umbrella. Following the announcement on 15 January that some of the Carillion companies had gone into liquidation, it is important to understand how this might affect you and your pension.

The parts of Carillion which have now gone into liquidation are:

  • Carillion Plc
  • Carillion Construction Ltd
  • Carillion Services Ltd
  • Planned Maintenance Engineering Ltd
  • Carillion Integrated Services Ltd
  • Carillion Services 2006 Ltd
  • Carillion LGS Limited
  • Carillion Asset Management Limited
  • Carillion Energy Services Limited 
  • Carillion Fleet Management Limited
  • Everprime Limited
  • Postworth Limited 
  • TPS Consult Limited
  • Carillion Specialist Services Limited
  • Carillion Utility Services Limited
  • Carillion AM Government Limited
  • Sovereign Hospital Services Ltd

If you work or have worked for any of the above, it is likely that your pension will enter the Pension Protection Fund (PPF). The PPF was set up by Government to pay compensation to members of defined benefit schemes where the sponsoring employer is insolvent. Pensioners who have reached their pension scheme’s normal pension age receive 100% of their pension benefits and non-pensioners will receive 90% of their accrued pension subject to an overall cap.

When a pension scheme applies to the PPF for compensation, this period is known as the 'assessment period'. During the PPF assessment period, the scheme trustees and administrators remain responsible for the administration of the scheme. This includes paying member benefits, although this will reflect the PPF compensation levels. Furthermore, while the PPF review the situation, any queries relating to your personal circumstances should be raised with the scheme administrators and importantly, it should be noted that you cannot transfer your funds out of the scheme during this time.

If you are an employee of one of the above and have concerns about what it means for you and your pension, you can contact our service on our dedicated helpline on:  0800 756 1012

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