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Calculating pension loss: EAT says ‘pick and mix’ sometimes permissible

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • December 16 2011

The Employment Appeal Tribunal has commented that, whilst an employment tribunal is not to be encouraged to adopt a ‘pick and mix’ approach to calculating pension loss, it may do so provided that it does so for cogent and credible reasons; it states what those reasons are; and the interests of justice require this approach

Pension schemes as super-creditors: Court of Appeal rules in Nortel and Lehman Brothers

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • November 29 2011

This appeal was brought by the insolvency practitioners dealing with the Nortel and Lehman Brothers companies

Incomplete scheme amendment: High Court offers a lifeline

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • November 29 2011

There have been a number of recent cases where the courts have been very strict in requiring trustees and employers to follow the procedural requirements of the scheme’s amendment power to the letter

Nabarro Clarity Guide 2 - changing members' benefits

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • October 4 2011

Welcome to our second Nabarro Clarity Guide

Another victory for the UK Pensions Regulator: FSDs granted “super-priority” status in English insolvency proceedings

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • March 30 2011

In previous issues of TransAtlantic, we reported that the UK Pensions Regulator had issued contribution notices (CNs) and financial support directions (FSDs) against insolvent companies in the Nortel and Lehman Brothers groups

Defining money purchase benefits: Court of Appeal decision

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • March 26 2010

A key question in the winding up of a pension scheme is whether all or any of the benefits are 'money purchase benefits' as these will fall outside the statutory priority order and, effectively, be safe in the hands of the member

Trustee liability: missing beneficiaries High Court case exposes trustees

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • June 26 2009

In MCP Pension Trustees Ltd v Aon Pension Trustees Ltd the trustee's insurers argued that Aon, the scheme administrator, should reimburse the insurer for sums due to missing beneficiaries whose records had been lost and who had emerged after the winding-up of the scheme had been completed

LGPS: meaning of "employing authority": South Tyneside decision overturned

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • May 30 2009

The Court of Appeal has given judgment in the South Tyneside case, overturning the judicial review decision made in December 2007

Sole scheme member’s invalid winding-up and transfer out: Thorpe -v- HMRC

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • May 30 2009

This case concerns an attempt by a sole scheme member to have the entire pension fund transferred to him tax-free

Court allows rectification of scheme documents

  • Nabarro LLP
  • -
  • United Kingdom
  • -
  • May 28 2009

Where a mistake has been made in scheme documentation, one of the remedies is to seek rectification from the court