MorganAsh

Johnston Press is one of the largest local and regional multimedia organisations in the UK. It provides news and information services to local and regional communities through its extensive portfolio of hundreds of publications and websites. The company’s titles span Scotland, the North East, West Yorkshire, the North West and Isle of Man, South Yorkshire, the South, Midlands and Northern Ireland – delivering extensive coverage of local news, events and information.

Johnston Press is sponsor to its £500m pension scheme. Previous valuations had shown a deficit of around £100m. In 2015, MorganAsh undertook a MUMS analysis targeting 550 pensioners. The result of the revaluation for financial reporting was a reduction in the deficit of £50m – around 10% of the total pension value. The revaluation figure has yet to be agreed with the trustees, this is ongoing.

As this was a material change to the company’s finances, it was announced to the stock market on 3rd February, and resulted in a 13% increase in the company’s share price, and coverage in the national media:

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Our clients say:

I would comment that I am extremely pleased with the handling of this application from submission to the confirmation of acceptance within a time span of ten days. It clearly demonstrated the efficiency of the telephone interview process which in this case took place within a few days of receipt of the application. I feel that particularly where the applicant is female it is more satisfactory for the client to discuss health and medical background issues as the client feels more comfortable talking to a ‘neutral’ person. Additionally, it takes the responsibility off the intermediary in the knowledge that any non-disclosure does not rest with him/her. I did ask my client in this particular case how she felt about the tele-interview and received a very positive response confirming her entire satisfaction with the process. Thanks, and ‘well done’.

An independent financial adviser