Collapsed UK snacks maker Golden Wonder is set to seek assistance from the recently-formed Pensions Protection Fund (PPF) in a bid to ensure staff do not miss out on their savings entitlement.
The PPF was established last year to avoid a repeat of the scandals over the non-fulfillment of pension payouts from firms in administration. It is currently assessing claims from pension funds belonging to 30 collapsed UK companies, including carmaker MG Rover.
Paul Wilson, a trustee of the Golden Wonder fund, told Investment and Pensions Europe that, subject to what is going to happen to the company, it [the scheme] is likely to [seek PPF protection]. The Golden Wonder scheme has approximately 1,730 members.