Monarch Airlines Pension Scheme

[Nightflyer]

Can anyone out there shed some light what is going on with the Monarch Pension scheme. There has just been a sudden change of administrators and while there has been assurances that all is well, I wonder how well the pension fund is really performing. Years ago I tried to find out what investments were held by the scheme without success. I just hope that large sums of money have not been invested in company aircraft leases.

[dundoniandean]

Nightflyer.

Was this change of administrator announced by the company? I don't think I have read that....??? Any further info <img src="confused.gif" border="0">

[Nightflyer]

I don't really know but the monthly pension is no longer paid out by W.M Mercer.

[Nightflyer]

Sorry got a bit mixed up. We have been informed that there is a change of administrator. I can't find the letter that they sent me so I cannot tell you who is the new administrator.

[sky9]

Nightflyer,

Ask the Personnel Department who is the current administrator, a copy of the Annual Report and the names of the members Trustees.
The Company will nominate Trustees, often it is the Personnel Director and/or Finance Director. They are prohibited from investing in their own company; I would be surprised if they owned aircraft or were involved in leasing.

[ 28 December 2001: Message edited by: sky9 ]</p>