Carillion

The Pensions Regulator (TPR) has told the Work and Pensions Committee (WPC) it has launched a probe to decide whether there is any basis for using its anti-avoidance powers with regards to Carillion.

The Pensions Regulator (TPR) has provided little evidence of hard action despite being aware of problems at Carillion since at least 2008, Work and Pensions Committee (WPC) chairman Frank Field has said.

The Pensions Regulator (TPR) failed to use its powers to force Carillion to pay higher contributions into its schemes despite trustees repeatedly raising concerns over the issue, Robin Ellison has said.

Industry believes regulator should have tighter control over concerning DB transfers to protect scheme members.

The Work and Pensions Committee (WPC) and the Business, Energy and Industrial Strategy Committee (BEISC) will hold two sessions to probe why Carillion went into liquidation.

The government has indicated it may change the order in which debts are recovered during an insolvency, putting pension schemes higher up the hierarchy.

Steve Webb says there are various ways to take action on executives who try to line their pockets by putting workers' pensions at risk

Jonathan Stapleton says government must take action to help lift the DB burden facing many UK businesses, rather than simply just blaming 'greedy' bosses and shareholders for pensions loss.

Theresa May has reaffirmed her commitment to tackle "unacceptable abuse" of pensions by companies "lining their own pockets".

Carillion's 13 UK defined benefit (DB) pension schemes had a combined £2.6bn buyout deficit upon its collapse on 15 January, according to an analysis for Sky News.