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Accountants KPMG have warned that struggling companies, especially SMEs, could find themselves in danger of bankruptcy due to huge bills they will be forced to pay into the new Pensions Protection Fund.
Companies have until 31 March to submit details about their final salary pension schemes to the Pensions Regulator to determine how much they must pay into the fund.
Dun & Bradstreet are to fix the credit ratings of companies by the end of the month which will be used to determine the amount each company will have to pay to the fund. Invoices are due to be issued during the summer.
later in the year.
Larger businesses are expected to get a lower risk rating as they are considered safer in the long-term, but SMEs
could be hit harder as they are more vulnerable.
A KPMG spokesman warned: "There is no doubt this could tip some companies over
the edge or put them in serious trouble".
Source:
RedAlert
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