Dominic Chappell ordered to pay £9.5million to BHS pension members after failed legal challenge

Tom Selby
14 January 2020

•        Dominic Chappell, the man who bought BHS for £1 from Sir Philip Green in 2015, fails in challenge against two Contribution Notices issued by The Pensions Regulator worth £9.5million in total (https://www.thepensionsregulator.gov.uk/-/media/thepensionsregulator/files/import/pdf/bhs-pension-schemes-determination-notice.ashx?la=en&hash=AEC8FBFE987ECB96C279F49BA29475DB2CCA0F8A)
•        Unsuccessful Upper Tribunal challenge means the BHS pensions scandal is coming to a close
•        Pension Schemes Bill published as part of Queen’s Speech includes tough new measures to hold bosses to account on pension promises

Tom Selby, senior analyst at AJ Bell, comments: 

“Dominic Chappell’s failed bid to overturn The Pensions Regulator’s £9.5million Contribution Notices means this sorry saga is one step closer to being resolved. 
“The regulator has been keen to demonstrate its teeth in pursuing both Chappell and former BHS boss Sir Philip Green to provide cash for the schemes left behind following the retailer’s collapse, and has been successful in securing hundreds of millions of pounds in total for members. 
“Despite this, thousands of former BHS workers will still understandably feel aggrieved that they will receive lower pensions than they had previously been promised.
“The BHS scandal has been the main driver behind reform proposals included in the Pension Schemes Bill designed to place greater responsibility for supporting pension promises at the door of company bosses. 
“In particular, the Bill beefs up fines and introduces the threat of prison sentences for those who neglect their responsibilities to members. While it is possible the extent of these powers will ultimately be tested in courts, the message to UK Plc is clear: a repeat of what happened at BHS simply will not be tolerated.” 

Tom Selby
Director of Public Policy

Tom is director of public policy at AJ Bell. He is a prominent spokesperson on retirement issues and his views are regularly sought by national print and broadcast media. Tom has successfully campaigned for a number of consumer-focused reforms, including banning pensions cold-calling and increasing pensions allowances, and he is passionate about improving outcomes for savers and retirees. Tom joined AJ Bell as senior analyst in April 2016, having previously spent seven years as a financial journalist. He has a degree in Economics from Newcastle University.

Contact details

Mobile: 07702 858 234
Email: tom.selby@ajbell.co.uk

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