Law360, London (November 21, 2018, 5:05 PM GMT) -- A senior lawmaker has asked Britain's pensions watchdog for details of its oversight of retirement savings at a multinational aerospace and transport company that announced on Wednesday it is to axe almost 500 jobs in the U.K. to help cut costs.
Frank Field, chairman of the parliamentary Work and Pensions Committee, asked The Pensions Regulator, known as TPR, to explain its involvement in the U.K. division of Bombardier. Field said in a letter published on Wednesday that he wanted to know whether the regulator knew of a deficit in Bombardier’s defined benefit scheme.
“Might I ask you please to update the...
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