We are really busy . . .

Since we left PPF assessment on October 8th we have sent out around 27,000 personalised letters to our members. Not to put too fine a point on it, this has been a truly mammoth task in such a short timescale but we wanted to put the new pension arrangements in place as quickly as we possibly could.

Every letter contains new and detailed information on how we have secured each member’s benefits going forward. This has generated a huge number of calls and emails seeking clarification of the contents of the letter and associated ongoing procedural requirements.

We are conscious that the sheer volume of calls means we have not always been able to respond to these queries as quickly as we would have liked.

We sincerely apologise for any delays you may have experienced and can assure you that we are doing everything possible to respond to calls as soon as we can. 

In summary, please bear with us – we are getting there . . .

Further recoveries

We are pleased to tell you that the Plan received a further £81m from the Nortel Administrators in August 2018 which means that overall recoveries have now increased to £1,093m. This is in line with our expectations and we still expect that the total recovery will be greater than £1,200m after further receipts expected in the remainder of 2018 and into 2019.