In 2016 the Bernard Matthews pension scheme started heading towards the PPF. This followed a corporate takeover that excluded the pension scheme. Whilst the Bernard Matthews scheme had a charge over company assets, any asset recovery for the pension scheme is now expected to be minimal.
Contingent assets, in their various guises, have increased in popularity and in many cases are extremely valuable for a pension scheme. However, in exchange for receiving a contingent asset, trustees often give something up.
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