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ARTICLE · 02 JANUARY 2015

FSD Warning Notice From TPR Sparks Valuable Settlement

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The MG Rover Group Pension Scheme and the MG Rover Group Senior Pension Scheme bring back fond memories for me – they were two of the first pension schemes I ever worked on when I first fell into the world of pensions.

United KingdomFinance and Banking
Alison Hills
Alison Hills

The MG Rover Group Pension Scheme and the MG Rover Group Senior Pension Scheme bring back fond memories for me – they were two of the first pension schemes I ever worked on when I first fell into the world of pensions. That was nearly ten years ago. The pensions world has changed a lot since then, but the MG Rover Group saga has continued to rumble on.

Background

MG Rover Group Limited and its principal trading subsidiaries went into administration on 8 April 2005 and subsequently entered into a creditors' voluntary liquidation the following March.  Following these insolvencies the MG Rover Group Senior Pension Scheme entered a PPF assessment period.

In May 2005 the Secretary of State for Trade and Industry appointed inspectors to investigate the affairs of the MG Rover Group.  The final report was published by the inspectors in 2009.  The Pension Regulator was particularly interested in the inspectors' findings regarding the acquisition of a "Loan Book" by

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