Sunday, March 29, 2020

Sir Phillip Green should “be writing a cheque saying I‘m sorry”: Lady Barbara Judge


Former pensions protection fund chairman, Lady Barbara Judge has said in an interview to BBC Radio 5 that the former BHS chairman should cover the huge pensions deficit himself.

Judge has also called for new powers for the Pension Regulator to avoid a repeat of the huge losses incurred.

“My proposal is that the Pensions Regulator or some other agency be set up, like the Competition and Markets Authority, [so] that every time a corporate transaction of a certain size takes place with a pension fund of a certain size… a filing would be made by the parties it interested,” Judge said.

“They would say this is the deal… and this is what we are going to do for our pensioners.

“Under my scenario we would have a pensions regulator that looked at every pension fund in the country and then had an obligation to talk to those pension funds about what they were doing.”

RELATED: Frank Field insists Sir Philip Green was “evil” to BHS staff

Following the controversial collapse of BHS and the remaining £571 million deficit, Green has come under increasing pressure to compensate those who have lost their pensions under the collapse of the high-street giant BHS.

The chairman of the committee investigating the collapse of the company, Frank Field MP, has also called for Green to compensate employees from his own pocket. 

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