2nd March 2016 Anne-Marie Winton in Pensions Expert re Morrisons £100m liability High Court ruling
Anne-Marie Winton comments in Pensions Expert regarding a High Court ruling on the benefits for 15,000 former Safeway workers has added a £100m liability to current owner Morrison’s defined benefit obligation, pointing to the difficulties involved in equalisation.
Anne-Marie said schemes must follow the fundamental principles on equalisation of, ‘Thou shalt follow the amendment power’.
On this basis, Winton said, it is surprising that schemes continue to seek “wiggle room”, but the huge amounts of money at stake mean cases still make it to court.
“Are there trustees and employers out there who aren’t 100 per cent certain they have equalised benefits properly?” she said.
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