UK - US engineering giant Parsons Group has refused to pay its UK scheme's shortfall in wind-up, leaving members facing cuts in their pensions of up to half their entitlement.
OPAS has persuaded scheme members to take their case to the pensions ombudsman. But the ombudsman is yet to establish whether his jurisdiction covers international legal battles and suggests the...
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