Marking the 20th Anniversary of Robert Maxwell's Death, November 2011
Posted: 30 October 2011
On 5 November it will be twenty years since Robert Maxwell fell overboard from his yacht in 1991 and it was subsequently discovered that £450m of investments were missing from the pension funds of his companies. To mark this anniversary PAT has obtained contributions from some of the personalities closely involved with obtaining restitution for the pensioners.
The contributions, giving their personal recollection of events and their work in what was a unique exercise to make good the pensioners’ losses, are provided by Jane Newell who became Chairman of the Maxwell Pensioners Trust; John Ballard, Executive Director of the Maxwell Pensions Unit and Kenneth Trench who was the Chairman of The Maxwell Pensioners Action Group. Copies of the contributions are attached and will be deposited in the Pensions Archive.
The Pensions Archive already holds a collection of papers from the Maxwell Pensions Unit and Maxwell Pensioners Trust donated by Jane Newell who is now a Vice-President of PAT. They consist of annual reports, accounts original Trust Deed and Rules and final report covering the period 1992-1997.
Alan Herbert, Chairman of PAT, says: “It is important to remind the current generation of pension professionals and trustees of the event of 20 years ago which has led to the emphasis today on pension scheme governance, internal controls and the management of risk, supported by The Pensions Regulator. Lessons can be learned from the past.”
The contributions can be read in the Pensions History section of the PAT website.