PM to stop the private sector pension abuse’

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The government will stop workers ‘ pensions are put at risk of “executives who are concerned of their own pockets,” the prime minister has said.

In the Observer, Theresa May, said a government white paper set “tough new rules” for company bosses.

It is the construction as a company of Chime’s collapse could leave a pension scheme deficit of £900 metres, potentially affecting 27,500 workers.

She also defended the use of the private sector to complete the public projects.

In his commentary of the piece, Mrs May stressed it would be Chime shareholders, not the taxpayers, “who pay the price of the company’s collapse”.

She said that the government would not be writing the address of the company is a blank check, but that would be “step-by-step, and in support of those affected”.
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It was reported earlier that the Carillion defined benefit pension schemes have a deficit of £580m, although this figure could be as high as £900m.

Defined benefit plans (DB) are based on a worker’s final salary, or career average earnings.

In March, the Department for Business is expected to release a White paper detailing the new law on the protection of DB schemes.

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The management of the pension systems, and their perception of the lack of protection and security, which has caused public outrage in recent years.

Last year, the previous owner of BHS, Sir Philip Green, came to an agreement with the regulator of pensions to pay for £363m in the pension plan of the company.

After the collapse of the BHS it was found that there was a £571m deficit in the pension plan. “Private Sector of the valuable role’

Despite the recent fall of one of the government’s largest private contractors, the Mrs May defended the government’s use of public-private partnerships.

She said that “the private sector plays a very important role in helping the public sector”.

The collapse of Carillion, which employs more than 43,000 staff from all over the world, has left many to question what is going to happen to several high-profile public services and infrastructure projects.

The construction company was in charge of completing the new £335m Royal Liverpool Hospital and the £350 million Midland Metropolitan Hospital in Sandwell.

Both the completion dates were delayed by the company.

He added that the Cabinet Office minister, David Lidington, had “acted quickly” to coordinate the government’s response to the Chime of the collapse, which has put a series of high-profile in the public services and infrastructure projects at risk.