The Pensions Regulator published a regulatory intervention report and confirmed that all 2,800 members of the Boxclever Group Pension Scheme have transferred into the ITV Pension Scheme, moving from Pension Protection Fund-level benefits to full scheme benefits with back payments. The regulator has ceased its regulatory action against ITV and associated entities. The action followed an anti-avoidance investigation opened after Box Clever collapsed in 2011. After legal proceedings, TPR issued Financial Support Directions to ITV and associated entities in 2020 and later sought a Contribution Notice for the scheme’s then full buy-out deficit of around GBP 77 million. A settlement was agreed with ITV in July 2024, supported by the scheme trustees and the Pension Protection Fund, and the bulk transfer completed on 1 October 2025.
The Pensions Regulator2025-11-06
The Pensions Regulator closes ITV enforcement action after securing full benefits for 2,800 Box Clever pension members
The Pensions Regulator confirmed the transfer of all 2,800 members of the Boxclever Group Pension Scheme into the ITV Pension Scheme, upgrading their benefits and ceasing regulatory action against ITV. This follows an anti-avoidance investigation and legal proceedings, resulting in a settlement with ITV in July 2024 and a completed transfer on 1 October 2025.