Wragge & Co LLP Pensions Team has completed the largest transfer to the Pension Protection Fund (PPF), helping secure compensation for more than 6,000 people.

The MG Rover Group Pension Scheme has fully transferred to the PPF following a formal period of assessment. A team led by pensions specialists Peter Shave, Vivien Cockerill and Paul Feathers is advising scheme trustees, Independent Trustee Services Limited.

MG Rover Group Limited went into administration on 8 April 2005, its scheme becoming one of the first to fall within the ambit of the new PPF. The scheme began its PPF assessment period on 31 August 2005, with full transfer given effect from 21 March 2007.

Glyn Ryland, Wragge & Co head of pensions, said: "This was one of the first schemes to seek protection so we and the trustees were sailing in uncharted waters. We faced a number of legal, commercial and political challenges along the way, resolved by excellent pensions expertise and a dedicated team effort. The result is great news for MG Rover employees and we are very pleased to have helped achieve PPF entry for the scheme."

ITS Managing Director Chris Martin said: "It has been a considerable achievement that we have been able to manage the MG Rover Group Pension Scheme through the PPF assessment period in such a short period of time. Despite a considerable number of very challenging issues, our success came as a result of the very strong partnership which developed between ourselves, the PPF and the professional advisors involved, in particular from Wragge & Co. Together we were able safeguard members' benefits at a time of considerable distress and confusion."

The scheme's assets, amounting to £415 million, have been transferred to the PPF and the scheme has been dissolved. It has 6,228 members with 1,267 immediately receiving PPF compensation. Following transfer, members' benefits will now be administered by Capita Hartshead on behalf of the PPF.

Wragge & Co's five-partner pensions practice operates as a single team of experts advising employers, trustees and institutional clients on a full range of non-contentious and contentious pensions issues. The national team is widely recognised as one of the UK's top-tier pensions practices. Its clients include the Rolls Royce Pension Fund, EMAP, Philips Pensions Trustees Limited and Steria.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Michelle Dolphin on +44 (0)121 213 2369

This press release may contain information of general interest about current legal issues, but does not give legal advice.