Monarch collapse: Frank Field has more questions for the Pension Protection Fund over airline's ditched pension scheme

The chair of the Work and Pensions Committee has written to the Pension Protection Fund (PPF) raising further concerns over the circumstances surrounding the offloading of collapsed airline Monarch's pension fund back in 2014. The Mantegazza family carved out Monarch's retirement scheme as part of a GBP1 sale to Greybull Capital. Frank Field said Sunday that he had written to the PPF's boss Alan Rubenstein raising concerns that the PPF and the Pensions Regulator "experienced some difficulty in negotiating a minimally acceptable dowry for the scheme - due to the Mantegazzas being insufficiently daunted by the prospect of TPR's moral hazard powers being deployed in the event of no deal". Last week, the PPF's restructuring head said that the former owners of Monarch tried to offload the pension scheme for under GBP10m. <br/>