Jane Kola comments in Pensions Expert on Mineworkers’ Pension Scheme surplus share uplift not transformational for the scheme
Former miners campaigning for the government’s fifty-fifty split of their pension fund’s surplus to be renegotiated have been told by their own trustees the impact of such a change could be underwhelming.
In July, trustees wrote a letter to members stressing that in the absence of robust investment returns and a big surplus, the impact on members’ pensions would be far from remarkable – perhaps as little as pennies a week for an average member.
Jane Kola noted that it is crucial that scheme communications explain the reality of changes clearly, “so that members are not misled in anyway”.
Read Jane’s comments in Pensions Expert
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. Arc Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.