Supreme Court slaps down DWP's employee pensions case

Judges dismissed the appeal by a majority of four to one to uphold a Court of Appeal decision concerning the Imperial Home Decor scheme, and a previous decision. A DWP statement said the judgment will result in some schemes being regarded as providing money purchase benefits under current legislation, even if it is possible for funding deficits to arise in respect of those benefits. "This will place some schemes outside the scope of a wide range of legislation, including that governing scheme funding, employer debt, the Pension Protection Fund and the Financial Assistance Scheme," it ...