M&E transaction Q&A
ITV has announced an agreed transaction involving its Media & Entertainment business.
The announcement is the first step in the transaction, and there will be several more steps before the transaction can complete.
1. Has my pension changed because of ITV’s announcement?
There will be no changes to the pension savings you built up before 1 May 2026 as a result of this announcement.
The Trustee has recently contacted you about its intention to transfer the savings you built up before 1 May 2026 in the ITV DC Plan to the new ITV Retirement Plan (which is part of the L&G Mastertrust) on 20 August. This transfer is unaffected by ITV’s announcement.
See Q3 if you are currently employed in a part of the business that is being sold.
2. Is the introduction of the new ITV Retirement Plan linked to the corporate transaction?
No; The decision to move to a master trust was not connected to any corporate activity. How people save for retirement and access those savings has changed significantly in recent years. ITV’s decision to introduce a new pension arrangement from 1 May was made in order to keep up with these changes.
3. I am currently employed in a part of the business that is being sold. What will happen to my existing pension savings?
Your existing pension savings will be unaffected. Your savings in the ITV DC Plan will be transferred to the ITV Retirement Plan on 20 August as outlined in the communication you received from the Trustee on 18 June 2026. When the transaction completes and your role moves to become part of the acquiring company, it will advise you of its pension arrangements for future service.
4. I am about to retire. Does this announcement affect my options?
No; the announcement does not affect what the trustee has previously advised. If you want to retire from the ITV DC Plan you’ll need to request a retirement pack from the Plans’ administrator XPS as soon as possible. You’ll then need to return your forms for stage 1 of the retirement process to XPS by 10 July, and complete all final paperwork including ID, accurately by 23 July. If you miss these deadlines, you won’t be able to retire from the ITV DC Plan. Your first opportunity to retire will be after 4 September, once your savings have moved to the ITV Retirement Plan.
5. I want to transfer my pension savings out of the ITV DC Plan and into a new arrangement. Does this announcement affect my transfer?
No; the announcement does not affect what the trustee has previously advised. Transferring your savings to another pension scheme can take a few months, so the first opportunity to transfer your savings to a different provider will be from 5 September once your savings have moved to the ITV Retirement Plan. This is unless you have already started the process and have completed all the required steps (e.g. had your scams call, moneyhelper appointment and returned all final paperwork including ID accurately) by 23 July.
6. What happens to my pension savings if the transaction does not complete?
The pension savings you built up in the ITV DC Plan will still transfer to the ITV Retirement Plan on 20 August.
7. How do I find out more information about the transaction itself?
The transaction announcement published by ITV on 6 July 2026 and available at https://www.itvplc.com/investors/regulatory-news includes additional details on the overall transaction, and further announcements will follow in due course.