Protection fund makes first rescue payments

Friday 1 December 2006 at 16:00

The Pension Protection Fund, the UK government's safety net for pensioners whose employers fail to meet benefit payments, will today make its first handouts to scheme members.

Thirty-one pensioners in the scheme of Chilton Scotland, an Ayrshire-based textiles company that went into administration in 2003, will be among the first to receive benefits directly from the PPF.