The pensions lifeboat is pushing to recover £75m from the administrators of Bernard Matthews, or nearly four times the pension deficit first flagged at the turkey producer.
Bernard Matthews was sold in September to Ranjit Boparan, owner of the 2 SistersFood Group, under a pre-pack administration deal where a companys assets, but not liabilities, are passed to new owners.
Around 2,000 jobs were saved as part of the pre-pack, which is the subject of a competition probe. But 700 Bernard Matthews employees now face cuts to their retirement income as a consequence of its pension scheme passing to the lifeboat fund.
In October, administrators for Bernard Matthews estimated the funding shortfall in the companys defined benefit pension sc…
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