Pilots’ pensions case opens at High Court
The cream of London’s pensions lawyers took to the High Court this morning for the opening day of the eagerly awaited “pilots’ pensions” case.
The case is designed to settle how the 1,600-member Pilots National Pension Fund (PNPF) will fill its £200 million deficit.
The scheme, which manages retirement savings for marine pilots, is funded by 53 different employers and its trustee has brought the case to determine which are obliged to pay up now the scheme is underfunded.
Rather than suing the companies in the usual sense, the trustee has convened the case to ask the court for guidance with each defendant agreeing to tackle a different legal point.
Source : The Times Blog
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