The fate of Carillion, one of Britain’s largest construction companies, is likely to become clear on Monday following a crunch meeting with UK government figures over the weekend. The Wolverhampton-based construction and management group has been struggling to reverse its fortunes after racking up at least £900 million in debts. Pension schemeThere are also concerns about the £580 million deficit at the company’s pension scheme. If Carillion is put into administration, the Pension Protection Fund would take over payment of pensions for the company’s 28,000 retirement scheme members. Members who are not yet drawing their pension would see haircuts to their retirement income of a least 10 per cent.

Source: The Irish Times January 14, 2018 16:52 UTC