BHS Collapse Threatens Employees Pensions

The transcript discusses the collapse of BHS and its impact on 20,000 pension plan members. It highlights the lack of communication from BHS, the role of former owner Philip Green, and the legal and financial implications of his management. The government-backed Pension Protection Fund is examined as a potential solution to the pension deficit, but concerns are raised about its capacity to handle future crises. The transcript concludes by tracing the root of the problem to BHS's decline in popularity.

What was the main issue faced by BHS pension plan members after the company's collapse?

• Their retirement fund was cut short.

• They were promoted to higher positions.

• They received a large bonus.

• They were given extra benefits.

What is the primary concern regarding Philip Green's management of BHS?

• He hired too many employees.

• He legally moved funds to Monaco.

• He failed to pay taxes.

• He expanded the company too quickly.

What is the purpose of the Emergency Pension Rescue Fund?

• To pay off company debts.

• To invest in new businesses.

• To support struggling pension funds.

• To provide bonuses to executives.

How much is the BHS pension deficit?

• £3.6 billion

• £571 million

• £1 billion

• £485 million

What challenge does the Pension Protection Fund face if it also supports the UK's steel industry?

• It will have excess funds.

• It will struggle to support future companies in trouble.

• It will need to increase taxes.

• It will have to close down.