The Ilford pension scheme has been transferred to the Pension Protection Fund (PPF) following an assessment period of just one year and a day.
Independent Trustee Services Limited (ITS) completed the transfer on 21st October after a period where the scheme’s sponsor, The Principal Employer Ilford Imaging (UK) went into administrative receivership and then entered liquidation in October 2010 triggering the start of the PPF assessment period.
ITS managing director Chris Martin said: “Despite the complexities around this case, our specialist team has assisted the scheme through the assessment period in 12 months. This is further testament to the strength of our specialist teams and the strong working relationship with the PPF.”
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