Reach/COVID-19: discussions on deferment of pension contributions

Posted: April 6, 2020

IN the light of the current COVID-19 emergency, Reach plc has announced furloughs for almost 1,000 staff; pay cuts across the company of between 10 and 20 per cent; suspension of annual bonuses and share dividends for 2020 – and asked “all stakeholders” to contribute to “ensuring the company is in as strong a position as it can be”.

Stakeholders includes pension funds, and as a result “the company has requested discussions around a deferment of current contributions to all the group pension funds”.

More information when we have it. Meanwhile, you can read the full statement here: https://www.reachplc.com/news-releases/news-release-details/covid-19-update-key-mitigating-actions