Work and Pensions Committee to look into Pension Protection Fund, impact of BHS pension liabilities
The Chair of the Work and Pensions Committee Frank Field MP has today announced that the Committee will be investigating the Pension Protection Fund, and in particular how the receipt of the pension liabilities from BHS, which has been placed into administration and has a £571 million deficit in its pension scheme, will affect the Fund and its users.
“We need as a Committee to look at the Pension Protection Fund and how the receipt of pension liabilities of BHS will impact on the increases in the levy that will now be placed on all other eligible employers to finance the scheme. We will then need to judge whether the law is strong enough to protect future pensioners’ contracts in occupational schemes.”
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