Rok has revealed a £90 million deficit in its defined benefit (DB) pension schemes.
The firm, which carries out maintenance and building repairs, collapsed in November 2010 with 3,800 employees and debts of £360 million.
In a progress report from the period from 8 November 2010 to 7 May 2011, Rok’s administrators, PricewaterhouseCoopers (PWC), confirmed that the total buy-out deficit in these schemes is £83 million, for which the trustees of the schemes have statutory claims against Rok for its appropriate share of the deficit.
The report also states that there is a further DB scheme which has a buy-out deficit estimated to be £7 million for which Rok is the principal employer. The trustee also purports to have a claim against the organisation for this deficit.
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