The Pensions Regulator - Regulatory Intervention Report issued 11 July

[Tony Green]

TPR report on Halcrow now online at


http://www.thepensionsregulator.gov.uk/docs/regulatory-intervention-section-89-halcrow.pdf


http://www.thepensionsregulator.gov.uk/press/pn16-33.aspx

[Tony Green]

The regulator is satisfied for a number of reasons including benefits to themselves and:


'In this case, we were satisfied because: „ Members have been given the option to transfer to HSP2. Although it offers lower benefits than the scheme, these HSP2 benefits will be worth £10 million more than the PPF compensation the members would have got under the scheme.'


So after all the 100s of millions deficit figures banded around HPS2 members can benefit by £10 million over PPF, not a great result one might say.

[tonyfoster]

Pity the pension regulator did not act in October 2011.

When there was money available.