Adrian Boulding: BHS pension 'debacle' should be catalyst for change

Time to put the DC house in order

clock • 6 min read

The BHS collapse hands Sir Philip Green (and all bosses) an opportunity to turn the tide on dismal workplace pension prospects which may otherwise become the norm, explains Adrian Boulding

I've always enjoyed shopping at BHS so it was sad to see them go under after 88 years of trading. I felt for the 11,000 staff, many of whom will now lose their jobs and take a cut in their pension entitlement as it falls into the hands of the Pension Protection Fund (PPF). The figures paint a stark picture of an employer pension scheme deficit that had been allowed to rise massively since Sir Philip Green bought BHS in May 2000, reaching a colossal £571m when the retailer finally collapsed in administration. In fact the year Green bought the business the pension fund had a small £5...

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