Napoleon famously described Britain
in pejorative terms as 'a nation of shopkeepers', so perhaps it is no great surprise that the most interesting story from the world of occupational pensions in the last month or so concerns one of our most famous high-street names, BHS.
Acres of newsprint have already been
written on the topic, but I want to explore some
of the pension-specific questions that need to be asked about the collapse of this once, if not exactly giant, then at least familiar, household name.
First, a little history by way of background. When Sir Philip Green bought BHS in May 2000, the group's pension funds were in surplus. In the year to March 2001, accounts for BHS Group ...