Pension schemes have trustees to provide arms-length governance, to protect the interests of employees and pensioners so that future Robert Maxwells can’t fleece them. Sounds like Carillion’s trustees were trying to do their job but were ignored. Whether you’re a fan of the c—- up or conspiracy, that the directors continued to pay dividends to keep up appearances rather than properly funding pensions, that their Chairman was a No 10 adviser, that they were allowed to become too big to fail but still did, could be seen as decidedly murky. You may think that, I couldn’t possibly comment; I’m sure our elected leaders know best.
“Why the UK’s workplace pension needs urgent reform”
Workplace, or auto-enrolment pensions were of themselves a reform, an attempt to reintroduce some form of compulsion to retirement savings.
