Pension liberation High Court case finds 'schemes are occupational'

The High Court case, between independent trustee firms Dalriada Trustees and Pi Consulting and The Pensions Regulator (TPR), was necessary to define the legal status of the pension funds. TPR had argued the arrangements were actually personal pension schemes, making transfers into the funds illegal. However, Mr Justice Morgan ultimately decided they are occupational pension schemes as defined by the 1993 Pensions Schemes Act. Mr Justice Morgan said in his judgement: "I have concluded that the purpose of the scheme as expressed in the language of the scheme satisfies the purpose test i...