Work and Pensions Committee

The directors of collapsed construction giant Carillion were "contemptuous" of funding their defined benefit (DB) pension schemes, and "refused to give an inch", Frank Field has alleged.

Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.

The Work and Pensions Select Committee has urged the FCA to ban the use of contingent charging for pension transfer advice in its latest report into the British Steel Pension Scheme (BSPS).

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.

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.

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 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.

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

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.