Are you considering the implications of the recent High Court’s judgment in the Lloyds Bank case?
The judgment confirms that occupational pension schemes need to adjust scheme benefits to remove the inequalities that arise from unequal GMPs. As a result of the judgment, various actions from Trustees and Sponsors of schemes with GMPs earned between 17 May 1990 and 5 April 1997 will be required. Our checklist highlights a number of key initial considerations for both the short-term and medium-term.
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How we can help
We provide individual and high quality actuarial advice, taking a collaborative approach between trustees, employer and advisers, to ensure a focus on good member outcomes.
We help sponsors of pension schemes understand and manage the costs and risks associated with supporting their current and legacy pension schemes as well as other employee benefits.
We help pension scheme trustees and sponsors to determine the ultimate destination for their scheme and help them put together a plan to get there, including how to effectively manage the risks they face along the way.
We help both trustees and sponsors prepare for and deal with corporate change.