Whitbread enacts new pension arrangement
Deloitte devised pension scheme now used by hotel chain
Whitbread, the UK’s largest hotel and restaurant company, has entered into an
innovative pension scheme which guards against the risk of over funding.
The arrangement, devised by
Big
Four firm Deloitte, Whitbread formed a partnership with the pension scheme
trustee backed by a stake in the company’s hotel and restaurant portfolio.
Whitbread then continues to control the properties while the partnership
provides income to the pension scheme.
David Robbins, the Deloitte pensions partner advising Whitbread, said
described the scheme as a “novel and intelligent” arrangement which cann make
significant contributions to a pension scheme.
Further reading:
Whitbread
PLC uses hotel and restaurant assets to make significant contribution to pension
fund