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<p>The Johnston Press Pension Plan is currently in the Pension Protection Fund’s (PPF)
assessment period, where it will be assessed whether the scheme’s funding level is
sufficient to secure pensions to its members at least equal to the level of compensation
the PPF would pay. If the scheme’s funding is not sufficient, then it will transfer
into the PPF and compensation will be paid at 100 per cent for individuals over their
scheme’s retirement age at the date of the insolvency, and 90 per cent of the member’s
accrued benefits, subject to an overall cap for everyone else. Benefits accrued post
1997 will be linked to PPF indexation going forward.</p><p><em> </em></p><p>There
are around 5,000 pension scheme members who will be affected.</p><p> </p><p>The Pensions
Regulator and the PPF are working together with the administrators to understand the
circumstances surrounding the sale and its implications for the Johnston Press Pension
Plan.</p>
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