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IPE special report May 2018

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Jardine Lloyd unit named as MG Rover trustee

UK - Jardine Lloyd Thompson's Independent Trustee Services arm has been named as independent trustee to two pension schemes of failed UK car firm MG Rover.

The firm said is working with the Pension Regulator, the Pension Protection Fund and professional advisors to gather the necessary information to understand the current situation and the history of the schemes.

"As soon as further information is available we will be communicating it to all the pension scheme members as our first priority," ITS said.

"Securing the best possible outcome for the scheme members and ensuring clarity of information to members will be ITS's priorities over the coming weeks.

"No further statements will be made until ITS have issued an initial communication to the members of the schemes which is planned to be completed by the end of this week".

Independent Trustee Services was set up in 1991 and is now a subsidiary of JLT. It was appointed as Rover’s trustee by the Pensions Regulator on April 12.

MG Rover went into administration earlier this month with the loss of around 5,000 jobs.

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