Common sense and (perhaps) cost savings

In a nutshell
The question of ‘how to properly equalise pension benefits’ is something that the industry has been grappling with ever since the Barber judgment of the ECJ back in May 1990. Most recently the emergence of substantial deficits – and the insolvent winding-up of many thousands of schemes – has thrown into sharp relief the question of members’ precise entitlements where their benefits have been equalised, with a knock-on effect on the extent of employers’ obligations to fund their schemes.

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Update supplied by Charles Russell LLP - www.charlesrussell.co.uk