Success! Breakthrough in the BHS Pension Saga

Last April, the British department store BHS collapsed taking with it more than 11,000 jobs and leaving behind a 571 million pension deficit.

Now, former BHS owner and billionaire Philip Green has agreed to pay 363 million of his own money to plug the massive hole in BHS’s pension scheme.

This settlement comes after months of campaigning from the Usdaw shop workers union, a lengthy parliamentary inquiry, and a huge Care2 petition that involved over 100,000 Care2 members coming together to tell Philip Green to live up to his promise to sort the pension scheme.

Our public pressure made it hard for him to dodge his responsibilities to BHS pensioners. He was embarrassed to put his hands in his pocket and offer 100 million more than his initial offer.

John Wood from the Trades Union Congress expressed his gratitude to Care2 and all those people who fought to make this campaign a success. “A big thanks to all the Care2 members who came together online to back the BHS workers’ campaign. All the public pressure over this case helped add up to bring Philip Green back to the table with a significantly better offer,” he said.

The Usdaw General Secretary, John Hannett, said: “We are pleased that Sir Philip has finally put his hand in his pocket, having promised to ‘sort’ the pension scheme last June. It is difficult to understand why this saga has been allowed to continue and why we have had to campaign for so long to get justice for our members. While the details are still not clear, we sincerely hope that this settlement does provide the BHS pensioners with a better deal than they would have got through the Pension Protection Fund. If this payment means there is no loss of benefits to the members of the BHS pension scheme, then this is welcome if not long overdue news.”

All this is a huge vindication of our efforts and shows that when the people are united, they absolutely can make a difference. Even billionaires are susceptible to public pressure.

In a statement, Sir Philip Green said: “Once again I would like to apologise to the BHS pensioners for this last year of uncertainty. I hope that this solution puts their minds at rest and closes this sorry chapter for them.”

Hopefully, this campaign will send a message to all employers that it is not acceptable to shirk away from the responsibilities to workers, current or retired. Thanks to everyone who helped this campaign become a win!

99 comments

John J
John J9 months ago

thanks for sharing

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John J
John J9 months ago

thanks for sharing

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Jack Y
Jack Y9 months ago

thanks

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Jack Y
Jack Y9 months ago

thanks

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KimJ M
KimJ M9 months ago

Tfs

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KimJ ManyIssues
KimJ M10 months ago

Comments not adding ??

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KimJ ManyIssues
KimJ M10 months ago

Tfs

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KimJ ManyIssues
KimJ M10 months ago

Tfs

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KimJ ManyIssues
KimJ M10 months ago

Tfs

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KimJ ManyIssues
KimJ M10 months ago

Tfs

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