We will take part in restructuring if it means the return from the employer will be better than if the business had been simply left to fail. It usually involves removing the pension debt from the company, allowing it to continue to trade with a positive cash flow and potentially make a profit.
The Purple Book, published by the Pension Protection Fund, gives the most comprehensive picture of the risks faced by defined benefit pension schemes in the UK
Each year we update our actuarial factors to make sure they’re actuarially equivalent, so the cost to us of providing each member's compensation is the same regardless of the choices they make.
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