Pensions watchdog faces MPs' scrutiny over Arcadia deficit

The Pensions Regulator (TPR) is facing scrutiny from parliament over proposals from Sir Philip Green's retail empire to slash the payments it makes to its retirement scheme.Sky News has obtained a letter sent by Nicola Parish, the watchdog's executive director for frontline regulation, which discloses a series of interactions with Arcadia Group and its pension trustees.The letter, which is expected to be published on Wednesday by the work and pensions select committee, was sent on 2 April - just