Work and Pensions Committee

Law and Regulation

Steelworkers left to fend for themselves 'while Rome burns', Field's committee says

Ensuring British Steel workers were well-equipped to make a decision on their future pension provision was "afforded insufficient priority", and the regulator now needs to review the process, the Work and Pensions Committee (WPC) has said.

clock 15 February 2018 • 5 min read

Defined Benefit

Carillion blocked trustee requests for negative pledge undertakings and formal support structures

Carillion trustees received advice in 2012 to implement a progressive dividend policy and put in place other undertakings and support structures but these recommendations were rebuffed by the sponsor, correspondence has revealed.

clock 30 January 2018 • 2 min read

Law and Regulation

TPR considering anti-avoidance action following Carillion collapse

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.

clock 29 January 2018 • 2 min read

Law and Regulation

Frank Field brands TPR's approach to Carillion as 'tentative and apologetic'

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.

clock 29 January 2018 • 3 min read

Defined Benefit

Committees to hold joint probe of 'grimly familiar tale' of Carillion collapse

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.

clock 24 January 2018 • 2 min read

Defined Benefit

Barclays under fire for planned shift of DB responsibility

Barclays Bank has defended plans to move its defined benefit (DB) pension scheme to its investment banking arm once it splits in April.

clock 22 January 2018 • 2 min read

Defined Benefit

Carillion pension schemes 'had £2.6bn buyout deficit' on collapse

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.

clock 19 January 2018 • 3 min read

Law and Regulation

WPC extends CDC inquiry deadline

The Work and Pensions Committee (WPC) has extended its deadline for written submissions for its inquiry into collective defined contribution (CDC) schemes.

clock 05 January 2018 • 2 min read

Risk Reduction

Toys R Us restructuring 'could fail unless it pays '£9m pension bill'

Toys R Us may have to pay around £9m into its defined benefit (DB) scheme so its restructuring deal can be agreed by the Pension Protection Fund (PPF), according to reports.

clock 19 December 2017 • 4 min read
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