Johnston Press workers face pension cuts

Trustees Agenda posted on 19 November, 2018

Approximately 5,000 former employees of Johnston Press could face cuts to their pensions following the company's collapse, with trustees of the pension fund now seeking assistance from the PPF. The company's businesses and assets will be sold to a newly formed company controlled by the investors that own its debt, allowing the new owners to offload the pension liabilities. Current employees will continue to be offered a DC pension but it is unclear whether the PPF will receive any payment towards the DB pension arrangement.