Put Pensions Before Divis, Firms Are Told ; Pensions

Evening Standard - London › February 18, 2009

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Summary

COMPANIES must put pension contributions before dividend payouts, the Pensions Regulator ruled today.

But because of the current economic turmoil, it signalled that companies will be given much longer to clear black holes in their pension funds. They could be allowed up to 10 years to make extra payments into funds that have a shortfall between assets and liabilities. This would reduce the scale of annual payments needed by cash-strapped businesses.

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Put Pensions Before Divis, Firms Are Told ; Pensions

The regulator said: "The...

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