Pensions

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There are around 27,000 members of the Group’s defined benefit schemes. The Pension Protection Fund ("PPF") provides compensation to the members of defined benefit schemes whose sponsoring employer becomes insolvent. However there are numerous schemes and so the position is complicated.

Our Pensions specialists, together with the schemes’ Trustees and the PPF, are looking into the schemes.

The Pensions Advisory Service ("TPAS") has established a dedicated Carillion line - 0207 630 2715.  TPAS will be able to discuss general enquiries members have about their pensions, but not questions about members’ specific circumstances.  We will provide further contact details to help members when we can.

If you are a member of the following schemes, an additional message is provided by the trustees here.

 

Carillion Staff Pension Scheme

Mowlem Staff Pension and Life Assurance Scheme

Alfred McAlpine Pension Plan

Carillion B Pension Scheme

Planned Maintenance Engineering Limited Staff Pension and Assurance Scheme

Bower Group Retirement Benefits Scheme

Carillion Public Sector Pension Scheme

Mowlem (1993) Pension Scheme

Pensions - Frequently asked questions

Questions?   Answers
What is happening about pensions? We are aware that there are a number of different pension schemes in the Group.  We are currently evaluating the schemes so that we know how the insolvency will impact them.  We will communicate with pension scheme members again as soon as we can.
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 of which you are a member.
Defined contribution plans: Carillion Pension Plan, Stakeholder plus, Carillion Workplace Plan. The defined contribution plans are currently still operating. Contributions to these plans will continue to be deducted by payroll and passed to the pension plan in the usual way. This applies to the contributions for January and thereafter.
Defined Benefit Pension Plans: Carillion Public Sector Pension Scheme, Mowlem93, Railways Pension Scheme, Electricity Supply Pension scheme.

The defined benefit pension arrangements are either closed to accepting new contributions or may be closed shortly. Contributions were made from the January payroll. Each pension scheme will be considered on whether it can accept the contributions. Where the plans are able to accept the contributions these will be paid. In the event that the contributions may not be credited, an appropriate refund of your contributions will be paid to you. The uncertainty about what will happen is regretted, it is an unfortunate consequence of the current legal position in which the company and the pension plans now find themselves. We will provide further information as soon as is possible.

Will the Pension Protection Fund (PPF) be involved? If your pension scheme is a private sector defined benefit pension scheme, it is likely that the PPF may have a role to play.  We are looking into this at present.  If your scheme starts an “assessment period”, which is the first stage of the process of entry into the PPF, in due course the trustees of the scheme will write to inform you of this.
Have all my contributions been paid into my pension scheme? This is one of the areas that we are investigating now.  
Am I still covered for death in service benefits? You may have been covered by a benefit which would pay out in the event of death in service.  We are currently checking whether this cover is still in place, and will let you know.
Where can I go for further information?

If you have contact details for your pension scheme, you could contact them for further information.  We will circulate details of contact points when we are able to do so.

For further information employees can email: employees.carillion@uk.pwc.com

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