PPF starts pension scheme payouts - papers 1 Dec

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The first bust company pension schemes to be bailed out under the recently-formed Pension Protection Fund were named today, says the Daily Telegraph .

The PPF will pay benefits to members of the Chilton Scotland Pension Scheme, the Padiham Retirement Benefits Plan and the BDH Retirement Benefits Schemes. Only 46 people stand to benefit from the initial payout, but thousands more are likely to benefit in the future. The paper quotes Lawrence Churchill, PPF chairman, as saying: "From here on in there will be a continuous flow of schemes completing their assessment period and their pensioners will feel reassured that their income every month comes from a known, trusted and stable source." CLAIMS HIGH street lenders offering mortgage...

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