Pensions - Articles - Broadstone comments on BHS pensions "mess"

 Commenting on the situation, John Broome Saunders, Actuarial Director at Broadstone said: “Presumably Sir Philip proposes to get out his cheque book and pay a lump sum into the scheme, to ensure that above-PPF level benefits can be secured.

 But he’s unlikely to want to offer enough to ensure that member’s full benefits can be protected, and he’s also likely to want the Regulator’s confirmation, as part of the deal, that they won’t come running after him (or his wife) for any further funding.

 Given that the Regulator has 70,000 documents to read before it can come to a considered view, such an agreement is unlikely to be reached soon. So the show will run and run.”