More than 1,300 Flybe staff who have lost their jobs could also lose their pensions, it has emerged. Workers risk suffering a big shortfall in old age because the money saved for their retirement is not protected.
Former staff will also be affected. Members of the pension fund are among 2,400 stunned staff to have lost their jobs after the airline collapsed.
Their plight contrasts sharply with Flybe’s wealthy owners, which include Sir Richard Branson’s Virgin Atlantic, 69, and a US hedge fund.
They are among well-off investors likely to recover money from Flybe going into administration this week. Pension schemes are usually guarded by the Pension Protection Fund, which comes to the rescue when firms go to the wall.
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