All Carillion articles – Page 2
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NewsCarillion: Regulator blasted for grasp of key facts on DB
Executives at the Pensions Regulator have been lambasted by MPs for being poorly informed and undermining confidence in pensions, after they appeared unable to answer questions on subjects including “a major KPI” of defined benefit scheme health.
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News
Carillion divestor considered lawsuit over reporting
Shareholders of the failed outsourcer Carillion had concerns about the business’ strength as early as 2015, according to a select committee inquiry into its collapse, raising questions about the transparency of the group’s financial reporting.
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News
Field: Carillion directors ‘contemptuous’ of pension obligations
Letters from trustees of the main Carillion pension schemes to the Pensions Regulator suggest that directors of Carillion were “contemptuous” of their pension obligations, according to chair of the Work and Pensions Committee, Frank Field.
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OpinionField goes in all guns blazing
Editorial: The MPs' pension scheme can rest easy, it does not look like they will have to pay out to Frank Field any time soon.
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News
Field: Big four audit firms 'feasting on Carillion carcass'
The Work and Pensions Committee inquiry into the collapse of outsourcer Carillion has turned its scrutiny on the 'big four' professional services companies, and has published the consultancies' responses to queries about their involvement.
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Features
It is time to take scheme administration more seriously
Analysis: The nuclear fallout from the demise of Carillion and the continued woes of Capita have dominated news bulletins in recent weeks.
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News
Select committees blast Carillion directors
MPs chairing the joint inquiry into the collapse of outsourcer Carillion have lambasted the company's former directors as "delusional", highlighting that recovery plans drafted shortly before the insolvency paid little consideration to pensioners.
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OpinionIndustries in turmoil
Editorial: The Carillion debacle is still unfolding and could yet reverberate across the professional services industry, while concerns mount over other outsourcing giants.
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News
Prospect: Govt must uphold promise to electricity workers
A group of Carillion electricity workers may become a key test case for pension protections, according to union Prospect.
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News
Committees question Santander, FSB and Carillion shareholders
Both the Work and Pensions Committee and Business, Energy and Industrial Strategy Committee have written to the Federation of Small Businesses, HM Revenue & Customs and major shareholders in Carillion to try to get a better idea of operations at the construction outsourcing company.
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NewsMPs accuse Carillion of trying to 'wriggle out' of pension obligations
The Work and Pensions Committee has accused Carillion of trying to “wriggle out” of its pension obligations for the past decade, amid calls for stronger laws to prevent future scandals.
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News
Carillion directors called to joint inquiry
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee are starting a joint inquiry into the collapse of Carillion, which has left thousands of employees and pension scheme members in limbo.
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NewsCommons debates default guidance in second reading of bill
The House of Commons debated the feasibility of default guidance and the future of private sector pensions during the second reading of the financial guidance and claims bill on Monday.
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NewsMay's promise to protect pensions lacks concrete solutions
Theresa May has pledged to stop executives who try to “line their own pockets” by putting pension schemes at risk, but questions over resourcing and legislative issues remain.
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OpinionTrustees must adopt more transparent practices
Increasing scrutiny of trustee decision-making means they will have to develop more proactive processes for communicating the level of security afforded to members by their scheme, according to the Pensions Management Institute’s Robert Branagh.
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NewsCarillion collapse leaves scheme facing PPF
Contractor Carillion has entered into compulsory liquidation, with its 28,000 defined benefit pension scheme members set to transfer into the Pension Protection Fund, at a potential cost to the lifeboat of more than £587m.
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NewsCarillion collapse sparks calls for better DB rules
The collapse of Carillion and impending transfer of some of its defined benefit members into the Pension Protection Fund has raised questions about the suitability of existing pensions laws.
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OpinionCarillion is a covenant warning
From the blog: The Pensions Regulator’s assertion that “the strength of the employer covenant can change materially over a short period of time” has once again been proved correct by the case of Carillion.
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Features
How Carillion managed ‘year-long’ longevity swap project
Carillion improved its governance and data to ensure a good deal on its £1bn longevity swap, as it sought to hedge greater-than-anticipated life expectancy among members of its defined benefit schemes.
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