Pension and Dorothy Perkins

fund: The pledge comes on top of a promise by the Green family and Arcadia, which owns Topshop, Topman, Dorothy Perkins, Wallis, Burton, Miss Selfridge and Evans, to put 360m into the pension over three years, according to The Guardian. The regulator, Arcadia's pension fund trustees and the pension protection fund, which acts as a lifeboat for collapsed companies savings schemes, said the package was sufficient to have secured their backing. Arcadia Group has handed security over additional property assets to the fund in response to a demand from the Pensions Regulator that the former billionaire inject another 50m to fill the group's pension black hole. The Pensions Regulator said We recognise that the best support for any pension scheme is a trading employer and we feel the CVA company voluntary arrangement proposals now provide the right balance between security for the pension schemes and the chance of sustainability for the company. Ian Grabiner, the chief executive of Arcadia said We hope that the landlords and other creditors will follow suit and we can get the company back on a strong footing in all the markets where we trade. The trustees said the deal materially enhances the security of the benefits of the 9,500 Pension Scheme members and provided the best outcome achievable. (news.financializer.com). As reported in the news.