Question to the Department for Work and Pensions:

To ask Her Majesty’s Government whether they are investigating circumstances surrounding the pension deficit of Arcadia; and what assessment they have made of the effectiveness of the Pensions Regulator in overseeing the scheme and its governance.

The regulatory oversight of work-based pension schemes, including funding issues, is a matter for the independent Pensions Regulator. The recent BHS settlement shows that there is a system in place for protecting the benefits of members of occupational pension schemes.

The government remains confident in the effectiveness of the Regulator however, we have recently launched a consultation on Defined Benefit pensions to make sure the tools they have are appropriate and sustainable. The paper also covers a number of other areas of concern in the defined benefit sector, including the powers of the Regulator. This paper was laid before Parliament on 20 February 2017.

The closing date for comments is 14 May 2017; responses can be submitted to the following postal address:

DB Consultation

Private Pensions

First Floor

Caxton House

6-12 Tothill Street

London

SW1A 9NA