Debenhams schemes remain in PPF assessment after rescue attempt fails

Department store goes under

James Phillips
clock • 1 min read

Debenhams’ occupational pension schemes are expected to enter the Pension Protection Fund (PPF) after administrators failed to rescue the company from collapse.

The Debenhams Retirement Scheme (DRS) and the Debenhams Executive Pension Plan (DEPP), which closed to future accrual in 2006 and have around 15,000 members, have both been in PPF assessment since last April when the ailing retailer launched a company voluntary arrangement (CVA) process. The High Street department store also has been in administration since April but the failure of Arcadia, announced this week, has had a knock-on impact, with around £75m of Debenhams' sales made from Arcadia stock. Both schemes were due to undergo triennial valuations this year. The 2017 review found ...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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