Corporate restructurings: We can work it outIn the UK, pension trustees now have a seat at the table and they have security. The Pension Protection Fund (PPF) was established in 2004 to provide compensation to members of eligible defined-benefit pension schemes when the employer is insolvent and there are insufficient assets in the pension scheme to cover the PPF level of compensation. Eligible corporates are charged a levy to cover the cost of compensation. Recent figures released by the PPF show that the 7,800 schemes now insured by the fund have an asset shortfall of £155 billion ($237.7 billion). This...
