Overview

The High Court has handed down the longest judgment ever in a pensions case, dealing with a whole series of deficit related questions concerning the Pilots' National Pension Fund (PNPF).

The PNPF is an under-funded, industry-wide pension scheme that unusually included self-employed, as well as employed, members.

The main issues in the case were which ‘employers’ (potentially including the harbour authorities who only authorised the self-employed pilots and had never previously been required to contribute to the scheme) were liable to pay contributions in respect of the deficit and what powers the trustee had to require contributions from them in the light of its unilateral power to amend the rules and funding legislation.


Click ‘View Briefing’ to read the full article