As with all things related to pensions, the details are horrendously complicated, but the case revolves around an issue that is unique to the UK – Guaranteed Minimum Pensions (GMPs). “In brief, in 2011 Lord John Hutton produced an independent report setting out how public sector pensions should be reformed. The Supreme Court refused the appeal because the government failed to “raise an arguable point of law”. Savers who have transferred out of a pension scheme over the last 30 years should seek urgent financial advice following a High Court ruling over a complex legal saga. The Supreme Court last week rejected a government appeal against a High Court ruling that the changes to pensions made in 2015, including for civil servants, had been discriminatory. Strictly speaking, the adviser does not need to recommend a … In 2018, the High Court outlawed different “guaranteed minimum pensions” payments to men and women. The case has implications for members of so-called defined benefit pension schemes, such as final-salary pensions, who were working between 1990 and 1997 in the private and public sector. Yesterday’s decision covers two cases for judges’ and firefighters’ pension claims. This includes considering which approach to take and factoring the impact of the decision into their wider business planning. Hundreds of thousands of former members of final salary pension schemes are in line for a financial boost following a landmark High Court ruling on historical gender discrimination. As with all things related to pensions, the details are horrendously complicated, but the case revolves around an issue that is unique to the UK - Guaranteed Minimum Pensions (GMPs). A High Court ruling today about pensions could have enormous ramifications for most final salary-type pension schemes. In December, the Court of Appeal ruled that changes to the pension schemes introduced in 2015 were unlawful on age, sex and race discrimination grounds. The court’s ruling in the Lloyds Banking Group Pensions Trustees Limited v Lloyds Bank Plc & Ors case is a significant change for any pension scheme that provides GMPs for members, and employers should understand how these additional pension liabilities will affect them. https://corporate-adviser.com/court-ruling-blocks-final-salary-pension-transfers Lloyds Bank Pension Scheme No 1, Lloyds Bank Pension Scheme No 2, HBOS Final Salary Pension Scheme – GMP equalisation court case What is the court case about? A High Court ruling about pensions could have enormous ramifications for most final salary-type pension schemes. He claims his pension of £280k is equal to her £120k final salary pension Hunt for women underpaid state pension has begun and is a 'significant task,' says DWP in … Government rules force savers to take financial advice when they transfer a final salary pension valued at £30,000 or more.

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