Home Business News Thomas Cook executives urged to give bonuses to pension fund

Thomas Cook executives urged to give bonuses to pension fund

by LLB Reporter
15th Oct 19 2:12 pm

Frank Field, chairman of the Commons Work and Pensions Committee has urged Thomas Cook executives to hand over their bonuses to the collapsed firms pension fund.

Recent calculations mean there “will not be enough to secure their earned retirement benefits in full.”

The committee said it is most likely many members will not receive their full pension entitlement.

Field said: “Thomas Cook workers now face a long wait to find out exactly how much they’ve lost from their life savings, and, while their former bosses might argue that this isn’t another BHS, Carillion or British Steel, they will have a hard time justifying the millions they pocketed while the company collapsed around them.

“If they’ve had a chance to check how their own pensions are affected, perhaps the high-paid executives responsible would like to bolster the retirement of some of the workers they left behind, and give some of it back?”

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