He added: "Once again, TPR has questions to answer".
The firm was a conglomerate, incorporating parts of several previously independent firms including Tarmac, Wimpey, Mowlem and Alfred McAlpine.
Carillion cited cash flow problems as a reason for not making higher contributions in 2011 and 2013, despite it paying more than £70m in dividends to shareholders in both years.
The business secretary, Greg Clark, welcomed the investigation, which the accounting watchdog said followed inquiries made since Carillion's shock profit warning in July.
In September 2017, the company requested that pension contributions be deferred altogether. In the end Carillion continued burning money until there was next to nothing left.
The purported cash flow problems did of course not prevent them shelling out dividends and handsome pay packets for those at the top.
MPs have also said that trustees "negotiated away" pensions deficit contributions entirely last autumn, to enable more borrowing in order to keep Carillion afloat. "Remarkably, this was endorsed by the trustees and TPR".
Tom McPhail, Hargreaves Lansdown head of policy said: 'It is easy to criticise the actions of the trustees and the Regulator with the benefit of hindsight.
A spokesperson for the Pensions Regulator confirmed it had been in contact with Carillion and its trustees "for a number of years".
Also, those using the PPF may not get full access to pension freedoms, said Steven Cameron, pensions director at Aegon:"The PPF plays an important role in protecting members of inadequately funded defined benefit pension schemes where their employer becomes insolvent".
The FRC sais it is "liaising closely" with the Official Receiver, the Financial Conduct Authority, the Insolvency Service and the Pensions Regulator to "ensure that there is a joined-up approach to the investigation of all matters arising from the collapse of Carillion".
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