BIC scheme to recoup £5m from members after pre-97 increases annulled

James Phillips
clock • 4 min read

Nearly 30 years after an initial decision to grant increases to members, the Court of Appeal has invalidated the decision, reducing members' benefits. James Phillips reports

Trustees of the BIC UK Pension Scheme did not follow proper process when granting increases to members' benefits between 1992 and 1997, the Court of Appeal has ruled. The court rejected the meth...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Law and Regulation

Industry backs advice guidance boundary proposals

Industry backs advice guidance boundary proposals

SPP and ABI broadly back targeted support and simplified advice

Jonathan Stapleton
clock 26 February 2024 • 3 min read
DWP launches options for DB schemes consultation

DWP launches options for DB schemes consultation

Government to consult on easier surplus extraction and public consolidator

Jasmine Urquhart
clock 23 February 2024 • 2 min read
TPR announces restructure as part of strategic shift in pensions oversight

TPR announces restructure as part of strategic shift in pensions oversight

TPR says change in approach comes as market moves to one of fewer, larger schemes

Jasmine Urquhart
clock 22 February 2024 • 2 min read
Trustpilot