Companies that play straight will object if the Pension Protection Fund is used as a residence to dump unwanted liabilitiesIn the normal shorthand,Sir Philip Green faces a “grilling” by MPs over the collapse of BHS, carrying a pension fund deficit of £571m, or a year after he sold the trade for a pound. In reality,the work and pensions select committee will be asking questions that require urgent answers.
For example: can the Pension Protection Fund (PPF) stand the strain of having substantial liabilities dumped on it? And do employees and pensioners need better safeguards when ailing businesses are sold in final-ditch rescue attempts?Continue reading...
Source: theguardian.com