AROUND 1,750 PENSION FUND members at collapsed carpet-maker Stoddard are going to have to wait more than a year to hear whether they are eligible for help from the new Pension Protection Fund (PPF), says the Scotsman .
Despite the government’s PPF coming into force yesterday, Ian Gordon - who is chairman of the pension scheme’s trustees as well as head of pensions practice at McGrigor Donald in Glasgow - told The Scotsman yesterday members of the pension scheme will still have to sit through a year-long assessment before any of them see money from the new scheme. Companies are only eligible for the PPF if they go out of business after 6 April. Stoddard, which went into receivership in February, is expected to go into liquidation "within the next few months" - thus triggering the year-long PPF applicati...
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