UK Regulator Challenged By MP Over Firm's Pension Deficit

Law360, London (December 5, 2017, 12:12 PM GMT) -- The U.K. pensions regulator is facing questions from the chairman of Parliament’s Work and Pensions Committee about its oversight of a grocery supplier, following reports that the company ran an £80 million ($107.3 million) pension deficit.

Frank Field, chairman of the influential committee, challenged The Pensions Regulator, or TPR, in a letter released late on Monday about whether it should have done more to protect staff savings at Palmer and Harvey Ltd., a grocery and tobacco wholesaler that went into administration on Nov. 28.

Annual accounts...
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