Theresa May promises to prevent repeat of Sir Philip Green BHS pensions scandal with tough new laws
'Anti-Philip Green charter' in election manifesto will vow an end to pension pots being bled dry
THE Tories have vowed to prevent a repeat of the Sir Philip Green pension scandal if they win the election.
Theresa May’s manifesto will include plans to rap big bosses who rake it in while their company pension pots dry up.
An aide dubbed the move the “anti-Philip Green charter”, the Mail on Sunday reported, referring to last year’s BHS debacle.
Brash knight-of-the-realm Green sold the high street retailer for just £1 and a year later it went bust with a £571m pensions black hole.
A PM spokesman told the paper: “Employees of large, household-name companies have found their pensions put at risk by irresponsible behaviour of bosses.
“In extreme cases, the Pensions Regulator could be given new powers to stand in the way of takeovers.”
Company directors could even be struck off and levied with massive fines.
Sir Philip faced grillings from MPs and public fury after BHS went bust, putting 11,000 out of work.
As many as 19,000 were left in the dark over their retirement savings, leading to calls for him to lose his knighthood.
Green was later forced to apologise and offered £363m to plug the deficit.
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