Pensions

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There are around 27,000 members of the Group’s defined benefit schemes. Details of the latest position with these schemes and the Carillion Group’s defined contribution arrangements are set out in the ‘Pensions – Frequently asked questions’ section

The Pensions Advisory Service (“TPAS”) has established a helpline – 0207 630 2715. TPAS will be able to discuss general enquiries members have about their pensions, but not questions about members’ specific circumstances.

 

There are around 27,000 members of the Group’s defined benefit schemes. Details of the latest position with these schemes and the Carillion Group’s defined contribution arrangements are set out in the ‘Pensions – Frequently asked questions’ section.
There are around 27,000 members of the Group’s defined benefit schemes. Details of the latest position with these schemes and the Carillion Group’s defined contribution arrangements are set out in the ‘Pensions – Frequently asked questions’ section.
There are around 27,000 members of the Group’s defined benefit schemes. Details of the latest position with these schemes and the Carillion Group’s defined contribution arrangements are set out in the ‘Pensions – Frequently asked questions’ section.

Pensions - Frequently asked questions

Questions? Answers

 

What is happening about pensions?

 

 

We are aware that there are a number of different types of pension schemes in the group. The insolvencies have affected each of these differently and further details are provided below.

 

 

Is the money in my pension safe?

 

 

Generally pension funds are held in a separate scheme outside the company, and so the money in the pension funds should not form part of the insolvency.

 

 

What is happening in regard to pension contributions since the company went into liquidation?

 

 

The treatment of pension contributions depends upon which pension plan you are a member of.

 

Defined Contribution plans e.g. Carillion Pension Plan, Stakeholder plus, Carillion Workplace Plan

 

The defined contribution plans are currently still operating. Contributions to these plans continue to be deducted by payroll and passed to the pension plan in the usual way. In the vast majority of cases no contributions relating to these schemes are outstanding.

 

 

Defined Benefit Pension Plans: Carillion Staff Pension Scheme, Carillion B Pension Scheme, Mowlem Staff Pension & Life Assurance Scheme, PME Limited Staff Pension & Life Assurance Scheme, Bower Group Retirement Benefits Scheme, Carillion Public Sector Pension Scheme, Mowlem (1993) Pension Scheme, Electricity Supply Pension Scheme, Railways Pension Scheme – GTRM and Centrac sections, Permarock Products Pension Scheme, Prudential Platinum (Carillion Integrated Services) Pension Scheme, Alfred McAlpine Pension Plan

 

 

As a result of the insolvencies, these schemes have entered an assessment period with the Pension Protection Fund (“PPF”). Contributions are no longer being made to these schemes and no further benefit is building up. It will be a number of months until it is confirmed whether these schemes will ultimately enter the PPF. Any immediate queries regarding your scheme benefits should be directed to your usual scheme contact.

 

Defined Benefit Public Sector Schemes: Principal Civil Service Pension Scheme, Local Government Pension Schemes

 

 

These schemes are currently still operating for Carillion employees and if you are a member of these schemes you will continue to build up benefits for as long as you remain employed.  Any immediate queries regarding your scheme benefits should be directed to your usual scheme contact.

 

 

Am I still covered for death in service benefits?

 

 

Yes, if you were provided with cover prior to the insolvency, then this is still in place.

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