PRAG Accounting for Virgin Media Discussion paper

Following continued discussions surrounding the Court of Appeal’s decision on Virgin Media Ltd versus NTL Pension Trustees II Ltd case (Virgin Media Case) in 2024, the PRAG Executive are issuing a discussion paper outlining our understanding on how the Virgin Media Case may be considered in relation to FRS 102 Contingent Liability Disclosure requirement for pension schemes and the pensions SORP (2018).  The purpose of this paper is to provide a foundation for considering and discussing the impact of the Virgin Media Case on pension scheme accounts.

Recognising the complexity of this matter, PRAG seeks members' input on seven questions before issuing any formal guidance. A link to the feedback form is included in this document and the message below. We kindly request that you complete the feedback form by Friday, 9 May.

Members can access this discussion paper via the Members/Publications area of the PRAG Website.