Most industry-wide schemes have, historically, provided access to final-salary schemes for companies that are either too small or would not wish to undertake their own self-administered scheme.
Participating employers have, as a result, relied 100% on the trustees and the industry body. In a number of industry-wide schemes, this has led to employers being left in the dark until matters have become very serious and it is often almost impossible to clear funding deficits.
TW has agreed plans with individual employers to take action to reduce funding deficits, with a view to insuring residual liabilities in the most risk free and predictable way for the company concerned.