Pension shortfall at corillion

Discussion in 'Money and Personal Finance' started by Welsh dragon, Jan 29, 2018.

  1. Welsh dragon

    Welsh dragon Senior Member Staff Member

    It seems that there is a pension shortfall or aroung 900 million. Contributions to the pension scheme were deferred until 2019 to shore up the financial difficulties that the companies finances.

    Aparently trustees were kept in the dark until late last year. Meanwhile bonuses and dividends continued to be paid out at the expense of pension contributions.

    It is alleged that Carillion tried to dodge pension payments for up to 10 years. I wonder who will pay the price for this blunder.
     
  2. Bromptonaut

    Bromptonaut Rohan Man

    The bill is likely to fall, via the Pension Protection Fund, on more solvent schemes. Outside possibility of either the Pension Regulator or Carillion's auditors being in the frame but unlikely I'd have thought. Suspect the Parliamentary Committee who's report has driven today's coverage is showboating ahead of examining witnesses and that it'll be just another collapsed fund.
     
    Welsh dragon likes this.
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