The assets of Horizon Pension Plan have been transferred to the government FAS.
The main effect of this is that you will now receive at the most 90% of the expected pension.
FAS also calculate payments from the time that the scheme started to wind-up.
For personnel already receiving a pension this means that they will have been overpayed by 10% according to FAS.
FAS then recalculates the pension that they will provide to recover any 'overpayment'.
The previous trustees of the Horizon Pension Plan have been discharged from their obligations to provide pensions.
For additional information see http://www.pensionprotectionfund.org.uk then click the 'Financial Assistance Scheme' button.