All courts articles – Page 4
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News
XPS: ‘GMP equalisation will be less costly than feared’
On the go: The cost of addressing inequality in guaranteed minimum pensions may be a lot lower than expected at less than 1 per cent of total liabilities for over half of all schemes, according to consultancy XPS Pensions.
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PPF starts payments following ECJ ruling
On the go: The Pension Protection Fund has begun to top up the compensation of members receiving less than 50 per cent of their original pension promise, following a landmark ruling by the Court of Justice of the European Union.
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Govt discriminated against younger judges and firefighters, court finds
The government has suffered another legal defeat over its handling of changes to pension provision for judges and firefighters, with a court maintaining that it discriminated against younger members and indirectly against ethnic minorities and women.
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OpinionEqualisation will dominate court cases in 2019
The past year has been a busy one for pensions lawyers, and 2019 looks set to deliver much of the same.
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NewsBT section must stick to RPI, Court of Appeal says
BT has lost an appeal seeking to allow it to downgrade the inflation protection given to some of its defined benefit members.
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News
GMP ruling could see £50bn of buy-ins restructured
On the go: Insurers are set to be deluged with a flood of requests to restructure buy-in contracts as a result of the High Court decision in the Lloyds Banking case, which held that guaranteed minimum pensions must be equal for men and women.
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High Court: Schemes must equalise GMPs
Defined benefit schemes must equalise guaranteed minimum pensions between men and women, the High Court has ruled, in a decision that could cost FTSE 100 companies alone an estimated £15bn.
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Civil partner LGPS survivor benefits set to match widows
Survivors of same-sex civil partnerships and same-sex marriage will receive the same survivor benefits as those provided to widows under new proposals for the Local Government Pension Scheme.
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News
PPF must not cut pensions by more than half, EU court rules
The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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News
ITV cleared to appeal Box Clever judgment
On the go: ITV has been granted permission to appeal a court decision upholding the Pensions Regulator's ability to issue a financial support direction against the broadcaster in relation to the Box Clever scheme.
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OpinionScrap the cap? PPF rules challenged at CJEU
It will be interesting to see if the Pension Protection Fund compensation cap survives the impending Court of Justice of the European Union's decision in the case of Grenville Hampshire v The Board of the Pension Protection Fund.
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News
High Court rules against statutory limit for overpayment recovery
The High Court has ruled that defined benefit schemes are not subject to a time limit on their ability to recoup pension overpayments. Such a recovery must be carried out equitably by altering future payments, however.
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FeaturesGo-Ahead pension scheme moves from RPI to CPI
Transport operator Go-Ahead has cut its pension liabilities by about £40m by changing the inflation measure used for its bus workers’ final salary scheme.
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NewsHigh Court backs employers in Wedgwood dispute
The High Court has ruled in favour of participating employers in the Wedgwood Group Pension Plan, who terminated their liability to contribute to the scheme in 2006.
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News
BT to appeal High Court ruling
On the go: BT will appeal last month’s High Court ruling against changing the measure by which increases for its Section C scheme are calculated, from the retail price index to the consumer price index.
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OpinionDB disputes: Solutions must be cost-efficient
From the blog: A number of important court cases involving defined benefit schemes are expected to be handed down in 2018.
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News
TPR gets stronger, the government weaker: Top 5 law and regulation stories from 2017
Year in review: If the UK government’s all-consuming struggle to strike a beneficial Brexit deal can bring any relief to pensions professionals, it is that departments have not had time for the pensions tinkering so despised by the industry.
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NewsHMRC abandons VAT policy on insurer exemption
HM Revenue & Customs has adapted its policy on the VAT treatment of pension fund management conducted by insurers, removing an exemption for all services, other than those supplied to "special investment funds".
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News£100m bill still hangs over Morrisons as court seeks European help
The Court of Appeal has partially upheld an equalisation ruling that could add more than £100m to the liabilities of the Safeway Pension Scheme, but has asked a European court to clarify whether benefits can be revised downwards in certain circumstances.
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News
No end in sight for Box Clever case
A long-running case over the Box Clever Group Pension Scheme is continuing after the Court of Appeal rejected an application for appeal by ITV, former co-owners of the TV rental business, with a substantive hearing at the Upper Tribunal due next year.