Theresa May: I will fine greedy bosses who betray their workers

Irresponsible company bosses who “line their own pockets” while failing to protect workers’ pension schemes are to be hit with huge fines, under plans to be announced by Theresa May’s government within weeks.

Writing in the Observer after a week which saw the collapse of Carillion, the construction and outsourcing giant, with a deficit in its pension scheme of up to £900m, the prime minister says her government will act urgently to stamp out “abuse”.

A total of 28,000 members of Carillion’s 13 pension schemes are facing a cut to their retirement funds.