News updates

15 January 2018

Main News

A message for members of the Carillion Sections

We are closely monitoring the situation relating to the entry of Carillion plc into liquidation, as announced on 15 January 2018.
RPMI and the Trustee are in contact with Carillion Construction Limited, the employer which sponsors both the Carillion Rail (GTRM) and Carillion Rail (Centrac) Sections, and we are closely monitoring the situation relating to the entry of Carillion plc into liquidation, as announced on 15 January 2018.
 
At this stage, we are not able to provide further information on how the developments reported in the news may impact the two Carillion Sections of the RPS and their members. We understand how concerned members of these Sections will be and we will communicate with members as quickly as we can once we are in a position to do so.
 
In the event that the outcome is that Carillion Construction Limited becomes insolvent, we expect the pension scheme would  go through an assessment period to determine whether it would be appropriate for it to be transferred to the Pension Protection Fund (PPF).
 
The PPF has been established to pay compensation to members of eligible defined benefit pension schemes, when there is a qualifying insolvency event in relation to the employer and where there are insufficient assets in the pension scheme to cover PPF levels of compensation.

The PPF has produced a useful guide about how it operates and the levels of compensation provided called 'What is the Pension Protection Fund…and what do we do?', which is available on the PPF website.
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