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Pension – Pension scheme. The Chancery Division ruled, in respect of a proposed transfer of the assets and liabilities of the Halcrow pension scheme to a new occupational pension scheme, that reg 12(3) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991, SI 1991/167, should not be construed in a way which required the actuary to consider the security of the benefits in the transferring and receiving scheme when giving a certificate under that regulation. Further, it held that there was no scope for a different construction or analysis of reg 12(3) where the transferring scheme was in winding up from the situation where it was ongoing.
Pension – Pension scheme. The Chancery Division ruled, in respect of a proposed transfer of the assets and liabilities of the Halcrow pension scheme to a new occupational pension scheme, that reg 12(3) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991, SI 1991/167, should not be construed in a way which required the actuary to consider the security of the benefits in the transferring and receiving scheme when giving a certificate under that regulation. Further, it held that there was no scope for a different construction or analysis of reg 12(3) where the transferring scheme was in winding up from the situation where it was ongoing.
The Chair of the Bar sets out how the new government can restore the justice system
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The Chair of the Bar sets out how the new government can restore the justice system
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