PPF cost "double" - papers 8 December

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Funding the Pension Protection Fund will cost double existing government estimates of £300m, according to new research The Daily Telegraph reports.

Consultant Mercer HR says this will happen because the fund will be called on by companies that have gone bankrupt before they have had a chance to contribute much if anything. "Given the Government has extended the eligibility of the scheme to groups of people whose employers cannot pay the levy for them, there is likely to be a rise in contributions to cover them," the paper quotes Mercer’s Deborah Cooper. INSURERS AND REINSURERS face the prospect of trying to overturn a jury verdict in the US, which has resulted in the attacks on New York’s World Trade Centre towers in September 20...

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