Pensions Regulator 

Sir Philip accuses MP of using him as 'political football'

Sir Philip accuses MP of using him as 'political football'

In a furious letter, Sir Philip Green has railed against Frank Field, chair of the Work and Pensions Select Committee, over the MP's investigation into the collapse of BHS and its pension scheme.

Former BHS owner Sir Philip’s letter was received yesterday by Mr Field, a year to the day since BHS collapsed into administration.

In the letter he criticised  Mr Field for making "a personal attack on me which is on any basis unnecessary and wholly unwarranted...I strongly object to your vindictive behaviour in using me as your political football".

But Frank Field in his response said Sir Philip has misunderstood the work of the committee. 

"That you came to an out-court settlement with the Pensions Regulator with the consent of the trustees and the Pension Protection Fund was of course welcome.

"The alternative would have been further uncertainty for the BHS pensioners, including the prospect of a future in the PPF.

"The fact remains, that incorporating indexation, the pension scheme members can expect to receive on average 88 per cent of  the benefits they were promised by you. Many will receive far less...Perhaps in the interests of transparency and bringing this episode to a close, you might publish the warning notice sent to you by the Pensions Regulator?"

Sir Philip Green agreed to pay £363m into a new pension scheme for former employees of the failed business in February this year.