Monarch scheme to enter PPF after restructuring

clock

The Monarch Airlines scheme will enter the Pension Protection Fund (PPF) after a restructuring which will see the lifeboat fund take a 10% stake in the scheme's exiting sponsor.

The remaining 90% will be bought by investment firm Greybull in a deal the company said would save approximately 2,500 jobs. The scheme, which has a deficit of approximately £660m on a buyout ba...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Aon publishes letter on UK BPA market

Aon publishes letter on UK BPA market

Letter champions innovation, member experience, transparency and planning

Jasmine Urquhart
clock 03 February 2025 • 1 min read
Lufthansa agrees £120m buy-in with Royal London

Lufthansa agrees £120m buy-in with Royal London

Transaction spans across the company’s three DB schemes

Holly Roach
clock 03 February 2025 • 1 min read
FSCS Pension Scheme secures £25m buy-in deal with PIC

FSCS Pension Scheme secures £25m buy-in deal with PIC

Full-scheme transaction secures the benefits of 37 pensioners and 117 deferred members

Holly Roach
clock 03 February 2025 • 2 min read
Trustpilot