Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
Sunday 05 March 2017 7:23 pm

Sir Philip Green plugs another pensions hole at Arcadia

By: Alys Key

Add as a preferred source on Google

Sir Philip Green has finalised plans to tackle yet another pension scheme deficit, this time at his own retail giant Arcadia.

Arcadia will double its payments to the company's pensions scheme from £25m a year to £50m, helping to cover a near £200m deficit.

The agreement comes just days after the billionaire settled a dispute over the pensions scheme at BHS, which he formerly owned. Green struck a deal with the Pensions Regulator last week, pledging up to £363m towards the estimated £571m hole.

Yesterday Green confirmed that Arcadia had signed a deal with trustees to bolster its own pensions scheme.

The Arcadia group is the parent company of multiple High Street brands including TopShop, Dorothy Perkins, Wallis, and Burton. It employs 45,000 people, at least 11,000 of whom are members of the pension scheme.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Retail

Trending Articles

  • James Watt offers to buy back Brewdog

  • Citroën 2CV returns as a £13,000 electric car, and the timing is no accident

  • Brewdog owner shrugs off James Watt takeover bid

  • Motsepe backed to succeed Fifa’s Infantino by South African minister

  • UK’s biggest pub firm probed over treatment of tenants

More from City PM

  • Government sets out conditions for unlocking ‘trapped capital’ in defined benefit pension schemes

    Personal Finance
    Dominic Cummings claims China has stolen vast amounts of secret UK material
  • ‘Unnecessary bureaucratic hoops’: Pension savers fall victim to outdated scam safeguards

    Personal Finance
    Twenty lower league football clubs in the UK have fallen into arrears to the HM Revenue & Customs (HMRC), according to chartered accountants and business advisers Lubbock Fine.
  • State-backed pension scheme plans to pump £1bn into start-ups

    Investing
    City economists have warned that the triple lock pension is unsustainable and unaffordable given the state of the UK's public finances.
  • Pension funds must ’embrace’ private markets to fuel growth

    Investing
    Skyline of Canada with iconic financial district buildings, highlighting UK investments and economic growth.
  • The pensions triple lock is a travesty. Our politicians must fess up

    Opinion
    Young people face the risk of failing to save enough in their pension
  • Cliff-edge warning: Fewer than 10 per cent of Brits to achieve a comfortable retirement

    Personal Finance
    Jar filled with coins symbolizing cautious saving habits of older Brits avoiding stock market investments for retirement s...
  • Making the jump to self-employment could damage your pension savings

    Personal Finance
    In 2022, rolling Tube strikes led to massive queues for crowded buses. (Photo by Chris J Ratcliffe/Getty Images)
  • Pension funds pledged a private investment splurge. Three years on, has anything changed?

    Markets
    Mansion House meeting of pension fund leaders discussing investment strategies and financial accords in a grand boardroom ...

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy · Facebook