Statement re Tuffnells Parcels Express Pension

Summary by AI BETAClose X

Smiths News PLC has received a Warning Notice from the UK Pensions Regulator regarding the Tuffnells Parcels Express Pension Scheme, indicating the potential for a Financial Support Direction. The estimated Section 75 debt for the scheme is £3,467,000, and Smiths News, which owned Tuffnells from December 2014 to May 2020, is one of several parties identified as potential targets. The company is reviewing the notice with advisors and will have the opportunity to make submissions before any final decision is made by the regulator.

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Smiths News (SNWS)
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