Thursday , November 15 2018
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FT Opening Quote – Pension and audit probes at Carillion

Summary:
If Carillion’s former directors, pension trustees, auditors or even pension regulators were hoping the news agenda might have moved on by now, Opening Quote has news for them. And it’s not good news, writes Matthew Vincent.This week, the Work and Pensions Select Committee is turning its attention to the collapsed construction group’s pension scheme funding – and the committee chairman has already accused the management of spending ten years trying to “wriggle out” of its pension obligations.Written evidence submitted by Robin Ellison, chair of Carillion’s pension scheme trustees, claims that the trustees had been concerned about underfunding for years – and tried to secure more money from the company in 2008, 2011 and 2013.But his letter shows that Carillion refused, citing cash flow

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Chris Nuttall
Award-winning journalist with more than 35 years' experience in newspapers, magazines, radio, TV and the internet at local, national and international levels. At the BBC for 17 years and has spent the past 15 with the Financial Times. Served as a foreign correspondent in Sri Lanka, Washington and Turkey as well as in a roving role for the BBC. Turned a late 1980s geeky interest into a professional focus on the internet and technology and was founding World Editor of the BBC News website and the BBC 's first Internet Correspondent.

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