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.

The Trustees of the Carillion DB pension schemes are reviewing all aspects of the member pension data they hold to ensure the correct benefits are held and paid.  This includes ensuring that member address details are correct as it is important that the Trustees can communicate with all members and keep them informed.  The Trustees use a specialist tracing company called Target to assist them with this. Members may be contacted by Target to verify their address.  If you are contacted by Target, we would encourage you to respond.

 

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 of which you are a member.
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

 

 

 

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 Pension Plan: Alfred McAlpine Pension Plan

As there are still employers participating in this scheme that remain solvent, this scheme is not yet eligible to start an assessment period with the PPF. It is expected to enter an assessment period in due course. 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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