Listen to our latest pensions podcast as Samantha Brown and Antonia Pegden, who lead the HSF team that has been advising the Banks in connection with the GMP equalisation litigation, discuss the judgment in the second Lloyds hearing (on the need to equalise historic transfers) and consider:
- the implications for DB schemes and existing GMP equalisation projects
- what the decision means for both transferring and receiving schemes
- the judge’s reasoning for finding that the trustees in this case did not benefit from any kind of discharge, and
- the implications where trustees are aware of other errors in calculating historic transfer values.
Please contact your usual HSF adviser (or one of our specialists shown below) if you have any questions about what this decision means for your scheme.