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Pension superfunds face their moment of truth


Pension superfunds face their moment of truth
Consolidators combine multiple employers’ schemes under one roof and are expected to do their first deals later this year
10 January 2021 • 4:00pm
Collapsed retailers such as House of Fraser, Debenhams and Arcadia group, owner of Topshop and Miss Selfridge, could all be early candidates for superfunds
When department store BHS went bust in 2016, it left behind not only the shell of a once proud British retailer, but a £571m hole in the pension fund intended to look after former staff in their retirement.
Its former owner, Sir Philip Green, who sold the chain for £1 a year earlier, eventually paid more than £350m to help plug the gap after intense pressure from MPs and regulators. ....

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