Frank Field, chair of the work and pensions committee, has urged Sir Philip Green to “put enough money” into the BHS pension fund to ensure no pensioners miss out, after the Arcadia boss said he is working to find a resolution to the gaping deficit “on a daily basis”.
Field, who co-authored a report into the collapse of BHS that pointed the finger of blame for its downfall firmly at Green, said he welcomed Green’s statement on Friday.
“But a major barrier to settlement is not the complications, although there are plenty, but a willingness to put enough money into that settlement which ensures that no pensioner is worse off than the day Sir Philip took over BHS when the pension fund had reserves to guarantee everyone their full pension,” he said.
“That must be the aim now. But, of course, it does nothing for the 11,000 BHS workers who have seen their jobs taken.”
A spokesman for Green declined to comment further.