Basic Search  |  Summaries  |  Advanced SearchPenalty: £8,500,000
Year: 2015
Date: 1 January, 2015
Offence Group: employment-related offences
Offence Type: benefit plan administrator violation
Violation Description: Severstal paid £8.5 million into the Carrington Wire Defined Benefit Pension Scheme in settlement of a warning notice that the company was liable for contributions to make up the deficit in the pension scheme, because although Severstal sold Carrington Wire, the original contributor to the pension scheme, Severstal had effectively wound down the company before sale.
Action Type: agency action
Settlement Type: Settlement with TPA
Agency: The Pensions Regulator
HQ Country of Parent: Russia
Ownership Structure of Parent: publicly traded
Major Industry of Parent: metals
Specific Industry of Parent: steel
Source of Data: (click here)