Backstops and gateways

While all the talk at Westminster over the past few weeks has been about “legal backstops”, judging from the consultation on DB consolidation, the talk at Caxton House has clearly been about “regulatory gateways”. Whilst the constitutional significance of these two legal mechanisms cannot be compared, there are a few striking similarities worth drawing out Read more

GMP equalisation (Part 3) – Latest judgment in Lloyds Bank case clarifies approach to equalisation when converting GMPs and may help with transfers

A further judgment has been handed down today by the High Court in Lloyds Banking Group Pensions Trustees Limited v Lloyds Bank Plc and others. The latest instalment in this case, which concerns the need to equalise pensions for the effect of guaranteed minimum pensions (GMPs), follows a short hearing on 3 December 2018 and clarifies … Read more

GC Update – December 2018

Today we have published our latest GC Update, which summarises recent and forthcoming developments across a wide range of areas. Read more

GMP equalisation – What must trustees do now?

So, the High Court has ruled that trustees are required to equalise benefits for male and female members under their scheme for the effect of GMPs. This judgment impacts all schemes which were contracted-out between 17 May 1990 and 5 April 1997 and which provide GMPs. There are a number of questions which remain unanswered … Read more