Marvin OnumonuThe Pensions Regulator (TPR) has secured full benefits for 2,800 members of the Boxclever Group Pension Scheme after a long-running case against ITV.
All members have now moved to the ITV Pension Scheme and will receive full scheme benefits and back payments, after having been on Pension Protection Fund levels since 2014.
Gaucho Rasmussen, executive director of regulatory compliance at TPR, said: “We are pleased to outline the final chapter in this long running case, showing how, if necessary, we will pursue complex cases to protect savers.
“Throughout our investigation we remained open to settlement discussions that would achieve a good outcome for the scheme and were pleased to reach a suitable agreement with ITV in July 2024.
“I encourage everyone with an interest in DB schemes to read the report carefully to understand how we used our Financial Support Direction (FSD) powers to require ITV to put financial support in place for the Boxclever Group Pension Scheme.”
