Halcrow: Latest restructuring of a pension scheme
The Halcrow case shows that the Pensions Regulator and the Pension Protection Fund may, in appropriate circumstances agree to release a company from its pension liabilities and facilitate benefit reductions provided some new financial support is made available.
This publication analyses the RAA structure, and looks at the potential impact of recent events surrounding the BHS and British Steel Pension Schemes, which have put pension restructuring in the spotlight.