MPs Move To Protect Thomas Cook Pensions Amid Collapse

Law360, London (September 24, 2019, 2:42 PM BST) -- The head of Parliament's pensions committee has launched an attempt to protect defined pension benefits for employees of Thomas Cook after the travel giant collapsed on Monday amid scrutiny of its managers' lavish bonuses.

Frank Field said he has written to the chairman of the Thomas Cook pension schemes trustees to ask what has been done to protect the interests of members in four defined-benefit schemes.

"I have written today to the trustees of the Thomas Cook pension scheme seeking reassurances to help safeguard at least the retirement income of those people whose jobs appear to have been carelessly squandered,” the...

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