News: Schemes warned CCJs could affect credit rating.

Pensions Week, March, 2006

Actuaries are urging schemes to clean up credit records and check the Dun & Bradstreet (D&B) website after the Prudential was identified as one of the companies hit by poor ratings.

Andrew Parncutt, scheme manager for the Prudential staff pension scheme said Prudential's failure score, which has the potential to send its Pension Protection Fund (PPF) levy rocketing, had been adversely affected by a handful of county court judgments (CCJs).

PW has also learned that the London & Quadrant Housing Trust, a housing association, was originally classified by D&B as an institution for female alcoholics, sending its failure score down to 69, compared to a top rating of 100 which would reduce the levy to the minimum payable.

Pensions manager,...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.