Carillion's Pension deficit

Despite repeated warnings stretching back to 2012, the company diverted monies intended for pension payments and debt repayments into directors pay and shareholders dividends.

A classic example of a scumbag company, propped up by juicy government contracts by even bigger scumbags.

https://www.theguardian.com/business...cuments-reveal

Re: Carillion's Pension deficit

Skimming off the cream. Not surprised at all.

Re: Carillion's Pension deficit

Indeed. They keep having ads for this workplace pension. But what happens to that if the company goes bust or the money gets embezzled. Do people end up with no state pension then? I can't understand who keeps track of any money paid in.

Re: Carillion's Pension deficit

Hi

I agree about the Pensions Deficit, it is completely wrong that Companies are allowed to do this.

Blair and Brown did it with Government Employees Pensions big time.

Re: Carillion's Pension deficit

These large companies often run on a negative figure until the final invoices are in and payment is received.

They price for wages and very little profit....the big profits come off the extras and unforeseens....they took too much on and dipped into the pension funds...Maxwell, remember him(ex Labour MP)?

This practice should be illegal.

Problem is the more contracts they have the larger the debt appears to be.

Re: Carillion's Pension deficit

I completely agree that pension funds should be sacrosanct and untouchable, but pensions are a prime target for easing cashflow and are continually raided not just by scumbag nasty party big businesses, but also by governments of all persuasions and with Gordon Brown probably being the biggest culprit of all whilst chancellor...

Re: Carillion's Pension deficit

The directors should face criminal charges for this disgraceful behaviour.