All Carillion articles
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NewsCarillion collapse: Former finance director in 11-year boardroom ban
Zafar Khan, who served as Carillion's finance director, has been disqualified as a director for 11 years, the Insolvency Service has announced.
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FeaturesPension fund focus on ESG opens questions over insurer back books
Billions of assets purchased by insurers to back UK retirement promises have the potential to drive corporate progress on issues such as climate change, and pension fund trustees are now indicating a willingness to pay extra for better stewardship.
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NewsPPF to appoint specialist panel to assist with overfunded schemes
On the go: The Pension Protection Fund is looking to appoint four new specialist companies to provide transaction advice to schemes in assessment that are overfunded on a PPF basis.
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NewsMP introduces bill to investigate Atomic Energy Authority transfers
Conservative MP David Johnston has introduced a private members’ bill to allow the Parliamentary and Health Service Ombudsman to investigate pension transfers made out of the UK Atomic Energy Authority pension scheme.
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News
Mowlem scheme completes buyout and exits PPF
On the go: The Mowlem (1993) Pension Scheme has entered into a £150m buyout transaction with Legal & General Assurance Society, securing benefits outside of the Pension Protection Fund.
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News
Blue chips rush to offload DC pension plans to master trusts
More and more blue-chip employers are looking to transfer their defined contribution pension plans to the new breed of master trusts. The Vodafone UK DC Pension Plan is the latest to move all members’ accounts, amounting to £1.4bn, into LifeSight. The transaction is expected to be finalised by the end of March 2020.
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News
PPF reaches 1,000th scheme transfer milestone
On the go: The Pension Protection Fund has accepted its 1000th scheme with the transfer of Carillion Rail, a section of the Railways Pension Scheme with almost 4,000 members.
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OpinionDB recklessness offence could catch worst employers
Just what is wilful or reckless behaviour in relation to a pension scheme? That is the test at the heart of a new crime proposed in the Conservative party’s 2017 election manifesto and confirmed in a government response last month.
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Opinion
Should shareholder distribution take a back seat to deficits?
Chris Sier is halfway through an imperious display at day one of the Work and Pensions Committee’s inquiry into pensions cost transparency.
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News
Industry slams lack of detail on regulator's new powers
Plans to reinforce the regulation of defined benefit schemes in the UK lack depth and may not have been able to prevent the pensions scandals that have rocked the industry in recent years, according to industry experts.
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News
FRC review threatens to impact actuarial profession
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.
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OpinionIncreasing TPR powers vital to protect DB schemes
From the blog: The white paper on protecting defined benefit schemes will go under the spotlight on Wednesday with both the Pensions Regulator and pensions minister giving oral evidence to the Work and Pensions Committee as part of its inquiry.
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News
Scheme support levels at highest level since financial crisis
FTSE 350 companies are in the strongest position to support their defined benefit schemes since the 2007/08 financial crisis, a new report has found. However, the gap between the index’s winners and losers continues to rise.
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News
Select committees question regulator’s ambition on DB
On the go: The Pensions Regulator’s commitment to engaging proactively with poorly funded defined benefit schemes and their employers has been called into question by two parliamentary select committees, in a stinging letter that discusses the future of chief executive Lesley Titcomb.
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OpinionCarillion's post-mortem
It is not unusual for Work and Pensions Committee chair Frank Field to show off an impressive vocabulary when launching a salvo against political and personal foes. But even by his standards, the imagery used to put to bed the failed outsourcer Carillion has taken a turn for the macabre.
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NewsRegulator rebuked for 'feeble' response to Carillion underfunding
Carillion’s corporate culture was at the heart of the contractor’s collapse, MPs have concluded, but the Pensions Regulator has also come under fire for “failing in all its objectives” regarding the company’s pension funds.
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Features
Which schemes are destined for the PPF?
The majority of smaller stressed defined benefit schemes are likely to end up in the Pension Protection Fund, according to consultancy Barnett Waddingham, as it raised concerns that the Pensions Regulator's new tougher stance may remove vital flexibility from the system.
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News
PwC probed on Carillion fees and conflicts
MPs have grilled PwC partners on fees and the safeguards the accountancy firm put in place to prevent conflicts of interest arising from its various roles regarding collapsed contractor Carillion.
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OpinionLearning the lessons of Carillion
We shouldn’t make the mistake of thinking that the collapse of outsourcer Carillion was down to its pension obligations, but the debacle does serve as a reminder of the tough decisions faced by trustees, argues Dalriada’s Jo Harris.
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News
'Risk-averse' former Carillion FD sold off shares
MPs have published evidence from Carillion's former financial directors, showing that one sold all of his shares in the company as soon as possible after retiring.