News & Events

Pensions

Webinar recording: Pensions Rectification – Evidence and Pitfalls

The recording for our pensions webinar on rectification is now available to watch. Watch Keith Bryant QC and Michael Uberoi consider what evidence needs to be put before the court and how to avoid some of the pitfalls. Keith Bryant QC and Michael Uberoi cover: What evidence needs to be put before the court when the alleged mistake is not referred to in the documents?How does a Claimant go about establishing the necessary mutual intention in such cases?When is a mistake a mistake as to legal effect, and when is it a mistake as to consequences? – how to approach this distinction in pension rectification cases.The use of confidential opinions – how the courts presently view them.How to establish the necessary…

Pensions Webinars, Webinars & Vlogs, Pensions 6 Aug, 2021

Watch the Webinar: OTC and The Pensions Regulator discuss the Pension Schemes Act 2021

Saul Margo of Outer Temple Chambers was delighted to host a talk on the Pension Schemes Act 2021 with David Fairs, Executive Director of Policy, Analysis and Advice at The Pensions Regulator. This live virtual talk, hosted by Saul Margo, saw David Fairs cover topics such as the new criminal offences contained in section 107 of the Act, including the concept of “reasonable excuse”, as well as the impact that the pandemic has had and will continue to have on the exercise of TPR’s enforcement powers. After a brief introduction to the Act from David, Saul posed a number of questions by guests in attendance. This Q&A session proved very popular and many questions were answered during the event, providing…

Pensions Webinars, News, Webinars & Vlogs, Pensions 14 Apr, 2021

Watch the Webinar: Jennifer Seaman & Nicholas Hill discuss the new Practice Direction 57AC

Jennifer Seaman and Nicholas Hill recently provided a talk on the new Practice Direction 57AC and its Appendix, highlighting key features and discussing practical ways to ensure compliance with the Practice Direction and avoiding sanctions. The new Practice Direction 57AC comes into force on 6 April 2021. It concerns witness statements for use at trials in the Business and Property Courts signed on or after 6 April 2021. It will involve a fundamental re-think to how such witness statements are produced. Jennifer and Nick presented a virtual talk recently, aimed at helping commercial and private client practitioners get to grips with the new rules. Watch the webinar; Practice Direction 57AC; Witness Statements About the speakers Jennifer Seaman is a leading…

Pensions Webinars, News, Webinars & Vlogs, Pensions 25 Mar, 2021

Webinar: Outer Temple Chambers and the Pensions Regulator discuss the Pension Schemes Act 2021

You are invited to join Outer Temple Chambers and the Pensions Regulator for a talk on Tuesday March 30 2021 at 10:00 AM on the Pension Schemes Act 2021. Outer Temple Chambers is delighted to host a talk on the Pension Schemes Act 2021 with David Fairs, Executive Director of Policy, Analysis and Advice at The Pensions Regulator. The talk will be hosted by Saul Margo of Outer Temple Chambers and David will cover topics such as the new criminal offences contained in section 107 of the Act, including the concept of “reasonable excuse”, as well as the impact that the pandemic has had and will continue to have on the exercise of TPR’s enforcement powers. You are invited to submit…

Events, News, Pensions 12 Mar, 2021

Equalising for the effect of unequal GMPs: Lloyds transfers Judgment

Andrew Short QC and Nicholas Hill acted for the Representative Defendant in this long-awaited and much anticipated case confirming the scope of the obligation to equalise for the effect of unequal GMPs following transfers out. In 2018 the first Lloyds Judgment [2018] EWHC 2839 (Ch) confirmed, over 20 years after the obligation arose, that pension schemes had to equalise benefits for the effect of unequal GMPs. The 2018 Judgment did not address the position of trustees of pension schemes where a member had transferred out and the trustees had made a transfer payment. In circumstances where the payment made failed to reflect the value of the member’s equalised benefits the unanswered question was whether the trustees remained under an obligation…

Events, News, Pensions 20 Nov, 2020

Practical Law (Pensions); “Univar v Smith; first contested pensions rectification trial in 8 years”

Judgment was recently handed down by the High Court in Univar v Smith & Ors. Michael Uberoi’s article looking at some of the key issues in the judgment has been published in Practical Law (Pensions). Univar v Smith & Ors [2020] EWHC 1596 (Ch) was the first contested application for the rectification of pension scheme documentation for over eight years, and was also the first judgment by the High Court to apply the Court of Appeal’s new, subjective test for rectification, as declared by Leggatt LJ in FSHC Group Holdings Ltd v GLAS [2019] EWCA Civ 1361. The 15 day trial involved cross-examination of over a dozen trustee and company witnesses who were the relevant decision-makers for the scrutinised Deed,…

Legal Blog & Publications, News, Pensions, Pensions 11 Sep, 2020

Successful pro bono representation before the Financial Ombudsman

Chloë Bell has successfully provided pro bono representation before the Financial Ombudsman through Advocate, the Bar’s national charity for free legal assistance from volunteer barristers. Chloë Bell has provided pro bono representation to an individual who suffered a shortfall in a pension transfer quotation due to negligent advice and services provided by his financial advisors. The individual’s advisors sent incorrect documentation to the entity responsible for providing the quotation. When the correct documentation was eventually provided the original quotation had expired and the individual’s guaranteed minimum value quotation was lower. Representation was provided (through Advocate) before the Financial Ombudsman. Chloë provided submissions on the contractual and tortious duties owed by the financial advisors, the breach of those duties and the…

News, Pensions 27 Aug, 2020

Second Court of Appeal Judgment in Safeway’s long running pensions equalisation case

On 13 July 2020 the Court of Appeal handed down its second judgment in Safeway Ltd v Newton (previously [2017] EWCA Civ 1482]) concerning the date on which the Normal Pension Ages applicable under the Safeway Pension Scheme were equalised at 65. Safeway Limited v 1) Andrew Newton 2) SPTL [2020] EWCA Civ 869: equalisation pursuant to section 62 Pensions Act 1995 The Court of Appeal held that section 62 Pensions Act 1995 went further than Article 119 of the Treaty of Rome and was an effective measure to close the Barber window. The Background On 1 December 1991 it was announced to Scheme members that Normal Pension Ages (NPAs) would henceforth be 65 years for men and women. On…

Commercial, News, Pensions 13 Jul, 2020

Naomi Ling, as specialist pensions counsel, successfully defends DfT in High Court

As part of a team of counsel, Naomi Ling has successful defended Department for Transport against a challenge to their process of awarding rail franchises. Naomi Ling acted as specialist pensions counsel as part of an 11 strong counsel team defending the Department for Transport against a challenge to the 2019 rail franchising process. Arriva, Stagecoach and Virgin Trains (the latter acting as part of a consortium) were disqualified from the competitions from the East Midlands and South Eastern and West Coast Partnership rail franchises because they had failed to submit bids that were compliant with the pensions requirements. They challenged this decision, claiming that the Secretary of State had acted unlawfully in requiring them to assume uncertain future pensions…

News, Pensions 18 Jun, 2020

Remote hearings and electronic bundles – reflections on the Lloyds GMP case

Practical tips for remote hearings and electronic bundles – Nicholas Hill reflects on a seven-day trial by Skype in the Lloyds GMP litigation. Nicholas Hill recently acted, led by Andrew Short QC, and instructed by Ivan Walker of Walkers, for the Eighth Defendant in the second substantive trial in the Lloyds Banking Group Pension Trustees Limited GMP litigation. The 2018 Judgment [2018] EWHC 2839 (Ch) confirmed that pension scheme trustees are required to adjust non-GMP benefits to equalise overall scheme benefits. The proceedings earlier this month concern the impact of the equalisation obligation on transfers out. Judgment is awaited. Nick sets out some practical tips and observations about the use and impact of technology adopted in the recent trial. In the…

Legal Blog & Publications, News, Pensions 26 May, 2020

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