Arcadia employee pensions

Motion Text

That this House notes that Arcadia has gone into administration, potentially putting approximately 13,000 jobs at risk; recognises that approximately 10,000 members of Arcadia’s pension scheme are being assessed for entry into the Pension Protection Fund; notes the £385 million pound agreement between the Pensions Regulator, Arcadia and the group’s owner to support employees pensions which was concluded in 2019; asserts that that agreement must be protected; recalls Sir Philip Green’s systematic plunder of former businesses including BHS; and calls on the Government to ensure that Sir Philip Green fulfils his responsibilities to cover any pension shortfall among his employees.