14 May, 2021

PM reveals new sanctions for company leaders over pension deficits

Prime minister Theresa May writes that the government is set to introduce “tough new rules” for executives presiding over expanding pension deficits.

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Prime minister Theresa May has said the government is preparing new measures that will sanction company leaders who fail to protect employee pensions. In an article for The Observer newspaper, in which May defends the government's record policies to tackle social inequalities, the prime minister framed the new measure as part of her reform of corporate governance and a direct response to the collapse of construction company and service provider Carillion. May said: "In the spring, we will set out tough new rules for executives who try to line their own pockets by putting their workers' pensions at risk—an unacceptable abuse that we wi

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Carillion, corporate governance, Frank Field, pension deficit, pensions, Theresa May