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Flybe pensions are Island based

FSA issues statement on website

The Isle of Man Financial Services Authority has posted a notice on its website confirming the pensions of former Flybe workers are held in an authorised scheme on the Island.

There have been reports in the UK press suggesting the pensions of 1,350 workers and ex-staff could be at risk as this sits outside the jurisdiction of the UK's lifeboat scheme, the Pension Protection Fund.

The IOMFSA says Flybe is the principal employer in the British Regional Airlines Group Pension Scheme.

It has trustees based in Douglas.

The IOMFSA says it's an authorised pension scheme under the Retirement Benefits Schemes Act 2000.

The authority is continuing to "engage with the trustee and the administrator of the pension scheme in relation to the impact of Flybe's administration on the pension scheme".

The IOMFSA concludes by offering additional information for members:

Pension scheme members looking for additional information should visit

https://bral.boal.co.uk/home/announcement/

Further infomation will be provided to memebers by the trustee in due course.

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