T&N trustees bound by PPF compensation cap

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The trustee of the T&N Retirement Benefit scheme has denied it has the power to boost benefits for members who are subject to the Pension Protection Fund compensation cap.

The scheme was bought out of PPF assessment last week in a £1.1bn bulk annuity deal which guaranteed PPF-level benefits – 90% for those below normal retirement age and 100% for those above – for th...

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