To: Sir Philip Green

Philip Green: Honour your BHS pensions pledge

Fully fund the BHS pension deficit that your management of BHS and £400m personal dividends have made so serious.

Why is this important?

In an interview with ITV News, the billionaire former owner of BHS said he was "very, very, very sorry" for the company’s collapse.

But the Pensions Regulator has "yet to receive a comprehensive written proposal" from Philip Green about a settlement for the BHS pension fund, which faces a deficit of £571m.

Most of that deficit was built up under his 15 years at the helm. He consistently underfunded the pension scheme -- while paying his wife £400 million in BHS dividends, channeled through Monaco’s low-tax regime.

Parliament has now voted for him to be stripped of his knighthood, but it's possible that despite investigations by the Work and Pensions Committee and campaigning MPs, that losing his "Sir" may be the extent of his punishment, along with some small financial contributions that still leave employees heavily out of pocket.

Usdaw has called on Philip Green to honour his pension promise and ‘sort’ the pension scheme. We had hoped this would take weeks rather than the months that have already passed. Now BHS pensioners it might be years before they see a result. He has claimed to ‘have been working on this issue on a daily basis’, but we have seen precious little progress so far.

Usdaw members in BHS were left devastated and jobless by the collapse of a company. 11,000 hard-working and loyal staff totally let down by the actions of a handful of people at the top.

Those jobs have tragically gone. Now workers could also lose great chunks of their retirement savings. Current and future BHS pensioners need to have their futures secured.

Let’s stand with BHS workers and tell Phillip Green we need to see real action, and now.


Reasons for signing

  • He is a crook
  • Without my state pension I would be pennyless, literally. I dread to imagine the situation for those who had a workplace pension only to find its been spent! The Government advertises the workplace pension but what are the safeguards? If these workplace pensions do not come with a guarantee what are staff expected to live off; if their pension is no more?
  • "Sir" Philip Green is just a spiv

Updates

2017-03-03 16:04:00 +0000

Sir Philip Green puts £363m into pension fund of collapsed retailer BHS after threats to strip his knighthood:

https://www.youtube.com/watch?v=StGXF4a_AFU&feature=youtu.be

2017-03-03 15:53:48 +0000

Sir Phillip Green issues a humiliating apology for the 'sorry chapter' after he agrees to pay £363m to plug BHS pensions black hole in a bid to salvage his reputation

- Sir Philip Green coughed up £363m to plug black hole in BHS pension scheme
- He came good on his promise to protect retirement income of 19,000 employees
- Billionaire transferred cash from his personal wealth to the Pensions Regulator

http://www.dailymail.co.uk/news/article-4269506/Sir-Phillip-Green-issues-apology-agrees-pay-363m.html

2017-03-03 15:51:16 +0000

Probe finds Sir Philip Green acted 'immorally' but not illegally in collapse of BHS:

The Insolvency Service's decision to spare the shamed tycoon an official reprimand means he could also avoid being stripped of his beloved knighthood.

http://www.mirror.co.uk/news/politics/probe-finds-sir-philip-green-9953471

2017-02-20 15:39:20 +0000

Ex-boss Sir Philip Green back under fire as MPs demand an end to secrecy after BHS affair.

A committee of MPs is recommending that large private firms should face the same rules on corporate governance as publicly listed companies. The work and pensions committee says changes could prevent another collapse similar to that of retail chain BHS.

Read more: http://www.thisismoney.co.uk/money/news/article-4215116/MPs-demand-end-secrecy-BHS-affair.html#ixzz4ZExR4zLu

2016-12-21 14:32:43 +0000

Sir Philip Green could face £1bn BHS fine under MPs' plan. Parliamentary Committee proposes ‘nuclear deterrent’ to stop companies trying to avoid responsibilities to pension schemes

Read more here: https://www.theguardian.com/business/2016/dec/21/sir-philip-green-bhs-mps-pension-schemes

2016-12-05 10:51:25 +0000

On 30th November, we took our message to Philip Green's London HQ.

Together with Shopworkers’ union Usdaw and campaigning group Care2, we delivered a petition signed by 100,000 people asking former BHS owner and billionaire Philip Green to ‘sort’ the pension deficit.

https://www.youtube.com/watch?v=TliPiJpq-pY

Philip Green made hundreds of millions out of BHS, and can well afford to do right by his former workers. But he is dragging his feet.

As Usdaw General Secretary John Hannett said:

“If he wants to recover any reputational credibility he must not haggle his way out of his responsibilities. He must make a full contribution and do it quickly. That is the least he can do for former BHS staff.”

Share this video with your friends if you agree Philip Green has a moral duty to fix the BHS pension scheme.

2016-10-21 02:13:34 +0100

5,000 signatures reached

2016-10-20 18:34:29 +0100

1,000 signatures reached

2016-10-20 18:23:45 +0100

500 signatures reached

2016-10-20 18:17:56 +0100

100 signatures reached

2016-10-20 18:17:10 +0100

50 signatures reached

2016-10-20 18:16:31 +0100

25 signatures reached

2016-10-20 17:53:31 +0100

10 signatures reached