UNION bosses have blasted the proposed bailout of the BHS pension scheme months after the Clydebank outlet closed.
Usdaw is expected to present a petition of more than 100,000 signatures at the headquarters of Arcadia, whose boss, Sir Philip Green, has pledged to “sort” the pension fund hole with £250 million.
The Clydebank store closed in July with the loss of around 50 jobs.
John Hannett – Usdaw General Secretary says: “Sir Philip Green promised MPs he’d ‘sort’ the pension scheme back in June, implying that would happen soon.
Over five months later we still don’t appear to be any further forward and his derisory offer of £250 million quite simply does not go anywhere near keeping his promise.
“Every one of the current and future BHS pensioners need assurances about their future income; having seen a company that traded on our high streets for over 80 years sold for £1, then go to the wall with over 11,000 jobs lost.
“That requires Sir Philip to put up enough funds to deliver a better deal than the guaranteed 90 per cent of accrued benefits from the Pension Protection Fund.
“Our priority is to see Sir Phillip do the right thing and deliver on his promise to ‘sort’ the pension fund.
"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.”
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