Property News · January 26, 2018

Carillion greed hits other companies’ pensions | Letters


The Pension Protection Fund receives its money by levies on other pension funds, writes Peter BrownThe collapse of Carillion and the payout of £900m from the Pension Protection Fund will not be a “hit to the public purse” (Report, 25 January). The PPF receives its money by levies on other existing pension funds. These levies have to increase to cover the demise of underfunded schemes. Since there are few, if any, new pension schemes being started, this burden is being forced on a reducing number of remaining schemes.This is fundamentally unfair. When companies knowingly pay dividends and bonuses instead of making payments into their pension schemes, they are taking money from their own employees, and when these companies go broke they are taking money from other companies’ employees. Continue reading…

Source : theguardian.com
Read more…Carillion greed hits other companies’ pensions | Letters

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