Basic Search  |  Summaries  |  Advanced SearchPenalty: £3,525,000
Year: 2022
Date: 8 December, 2022
Offence Group: employment-related offences
Offence Type: pension plan violation
Violation Description: Six related companies (Newburgh Holdings Limited, Hope Valley Industrial Limited, Hope Valley Residential Limited, Hope Valley Industrial Holdings Limited, Hope Valley Residential Holdings Limited, and Hope Valley Holdings Limited) plus the scheme trustee and employer agreed to pay £3.525 million in a settlement with The Pensions Regulator resolving allegations that the companies had restructured the groups assets to benefit the companies owners at the detriment of the employees pension scheme. The settlement was paid into the Pension Protection Fund.
Agency: The Pensions Regulator
Source of Data: (click here)