CITB set for £20m pension windfall

The Construction Industry Training Board is set for a multi-million pound windfall from a pension fund in the process of being wound-up.
Industry sources estimate the training body could be in line for a payout of up-to £20m.
The windfall will come from the closing ITB Pension Fund which manages money for all current and former industry training boards.The closure of the scheme was triggered after it reached maximum funding levels.
The ongoing pension needs of employees will be met by an i