Labour and the Unite union have called on Sir Philip Green to ensure his retail empire’s pension scheme is fully funded if administrators are called in this week. It said rules should ensure that companies could not prioritise funding shareholder dividends, bonuses and executive pay over pension deficit payments. Green eventually paid £353m to support the BHS scheme after pressure from the pensions regulator. Despite those payouts, Arcadia’s pension scheme is in a much stronger position than BHS’s was. “Philip Green is one of the most unsympathetic figures in British business.

Source: The Guardian November 28, 2020 14:35 UTC