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Carillion Pension Black Hole Reveals 'Broken System'

Monday, January 29, 2018

 

GMB CRITICISE ‘BROKEN SYSTEM’ AS CARILLION PENSION BLACK HOLE REVEALED 

This mess needs sorting out, and it's a mess that's lies directly at the Government’s door says GMB.

GMB, Britain’s general union, has criticised the broken system which allowed Carillion to keep winning Government contracts while hiding a £1billon pension deficit. 

The Work and Pensions Committee has published a letter from Robin Ellison, chairman of trustees of Carillion's pension scheme, suggesting the company was left with a funding shortfall of around £990m. [1] 

Rehana Azam, GMB National Secretary, said: 

“The fallout from Carillion continues almost two weeks since it went into liquidation. 

“The more we see, the more it appears that the workers are paying the price for the failures of corporate bosses and government ministers. 

“Thousands of Carillion workers still don’t know what will happen to them as their pay, terms and conditions hang in the balance - and worse, the prospect of their pensions being raided.

“The system that has allowed this to happen is broken and it must change. 

“The Government needs to get on with it - this mess needs sorting out, and it's a mess that's lies directly at their door. 

ENDS

Contact: GMB Press Office on 07958 156846 or at press.office@gmb.org.uk

Notes to editors:

[1] http://www.bbc.co.uk/news/business-42853895
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