Regulator let firm defer payments to £1bn pension deficit but rack up debts to fund dividendsMPs bear accused the Pensions Regulator of failing to act while Carillion racked up debts to pay dividends and executive bonuses,as the business built up a pension deficit that reached nearly £1bn by the time it collapsed this month.
The House of Commons work and pensions committee, which is investigating Carillion’s collapse into compulsory liquidation two weeks ago, and criticised the Pensions Regulator for allowing Carillion’s pension trustee to defer pension deficit contributions in September in a bid to preserve it afloat by enabling more borrowing.
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Source: guardian.co.uk