Lehman Brothers, the failed investment bank, has asked to enter around 2,400 UK employees into the Pension Protection Fund scheme, reports The Telegraph .
The lifeboat fund said it is reviewing a request made by administrators, PricewaterhouseCoopers, to admit part of the bank's pension scheme. Should the plan be accepted into the fund, it would lead to a 13pc leap in the number of payments made by the PPF to people who have lost their pensions as a result of their company collapsing. Lehmans was the fourth-largest investment bank in the US before it filed for bankruptcy last month. It became the first financial company to seek help from the PPF, which currently pays the pensions of employees in industries such as manufacturing and e...
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