Firms that try to wriggle out of pension promises to workers should be slapped with fines, MPs told amid fallout from BHS scandal
Firms should face fines for trying to duck responsibilities to pension savers in a crackdown following the BHS scandal, MPs have been told by the industry lifeboat scheme.
The Pension Protection Fund, which steps in to help workers in final salary schemes when their firms go bust, called for regulators to be handed stricter 'anti-avoidance' controls against firms, including financial penalties.
Both the rescue scheme and the Pensions Regulator want greater powers to prevent pension funds being dumped when firms are sold.
The risks were laid bare following the collapse of retail chain BHS,... read more
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