Anna Rogers comments in The Times on Lloyds’ bill of up to £150mn after landmark pensions ruling
Lloyds Banking Group must amend its pension schemes in order to equalise benefits for men and women, the High Court has ruled in a landmark case set to have far reaching implications for thousands of other companies.
Anna Rogers commented that schemes also have to pay interest on arrears:
“Schemes do have to equalise the effect of GMPS and there is a range of permissible methods but the key is ‘minimum interference’ from the employer’s point of view.
“This seems a fair way to strike a balance between members and employers given that it’s nobody’s fault that this issue has been dragging on for so long.”
“Schemes also have to pay interest on arrears which is important given that the relevant service dates back over 20 years.”
Read Anna’s comments in:
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