Turner & Newall Pensions Shortfall
Pension shortfall crisis hits car parts company Turner and Newall
26th July 2004
Current and former workers of Turner & Newall car parts company could face substantial losses to their pensions as their fund hits an estimated shortfall of £875m.
Current workers could get less than 40% of their pension's value, while retired workers could see their pension payments frozen at their current level.
Up to 40,000 people are expected to be hit, and if the scheme is wound up it would be the biggest such closure yet.
Read More: BBC Money
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