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Britain's regulator agrees deal over Hoover pension scheme
June 2, 2017 / 10:47 AM / 6 months ago

Britain's regulator agrees deal over Hoover pension scheme

LONDON (Reuters) - The Pensions Regulator, which regulates Britain’s workplace pension schemes, said on Friday it had reached a deal with Hoover Ltd that is expected to see its pension scheme enter the Pension Protection Fund.

Under the deal, Hoover will pay 60 million pounds into the scheme, which has 7,500 members. The scheme will also receive ordinary shares representing a 33 percent stake in Hoover, TPR said in a statement.

Reporting by Simon Jessop; editing by Maiya Keidan

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