The Spirit of Enniskillen Trust, a youth-led charity working across Northern Ireland, has entered administration because of increasing defined benefit (DB) liabilities.
The charity, which was set up in the aftermath of the bombing of the centotaph in Enniskillen, Northern Ireland, has seen liabilities rise to £250,000 and has only £150,000 of assets in the form of its building.
The Spirit of Enniskillen Trust is a member of the Northern Ireland Charities Pension Scheme, a multi-employer DB trust which is run by The Pensions Trust.
A statement on the charity’s website from the trustees read: “Reluctantly and with deep regret, the Spirit of Enniskillen Trustees resolved on Thursday 14 March 2013 that the charity, faced with an increasingly unsustainable financial situation, should be wound up.”
Latest News
-
DWP to remove overseas investment amber flag as part of pension transfer changes
-
HMRC launches consultation on GMP conversion tax changes
-
Insurer competition driving ‘unprecedented’ buy-in pricing
-
DB funding surplus rises by £5.3bn in May
-
Majority of young adults back early state pension access proposal
-
Hampshire Pension Fund consults on investment strategy and ESG priorities
CDC in the UK pensions market
Pensions Age editor, Laura Blows, talks to Sophie Dapin, Director, Institutional Solutions EMEA at BlackRock, and host of BlackRock’s Rewiring Retirement podcast, about the growing interest in collective DC in the UK pensions market
Podcast: From pension pot to flexible income for life
Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories