More pensions headed for scrapheap - papers 31 March

This would add to the number of people left without a pension because their employer went bust, The Times writes, as the Pension Protection Fund is still more than a year away from reality. With assets of £36m, the pension fund has liabilities of £56m, but Mayflowers creditors are owed more than £160m, the paper says. The Scotsman says “insolvency and receivership” are the next steps for the Falkirk-based firm. Equities analysts in the City believe the banks are not impressed with the business plan put forward to rescue the company, and that it is only a matter of time before they ...