Qualified advisers answering your
Financial Questions
call 0800 092 1245

Kodak Pension Plan Members to receive reduced Benefits

Members of the Kodak Pension Plan (KPP), of which there are thought to be 15,000, will receive reduced pension benefits after Kodak’s parent company, Eastman Kodak, was declared bankrupt.

KPP was forced to pay £419m to buy the business and in doing so save the company from closure.

KPP now owns the companies entire film business, which consists of hundreds of thousands of photo kiosks worldwide, as well as photographic paper and souvenir photos at venues such as amusement parks.

Eastman Kodak filed for bankruptcy in January 2012, 120 years after it was founded in New York City. The deal from KPP is still to be examined in US court, but it is thought that the hearing scheduled for 30 April would see Eastman Kodak exit from Bankruptcy.

A spokesperson for the UK pension fund said: “This is the best possible deal for UK pensioners. Because Eastman Kodak was in chapter 11 (US bankruptcy protection), the previous plan was unsustainable.

If you have been affected by this and would like any related help or advice, please contact one of our advisors.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details