Virgin Media Ltd v NTL Pension Trustees II Ltd & Ors [2024] EWCA Civ 843 (25 July 2024)

Virgin Media Ltd v NTL Pension Trustees II Ltd & Ors [2024] EWCA Civ 843 (25 July 2024)

The Court held that the definition of 'section 9(2B) rights' in reg 42(2) of the Contracting-out Regulations includes both past and future service rights. Therefore, any amendment to the rules of a contracted-out scheme affecting benefits to be earned by future service required written confirmation from the scheme actuary that the scheme would continue to satisfy the statutory standard. The absence of such confirmation rendered the amendment void.

Citation
[2024] EWCA Civ 843
Parties
Claimant / Appellant: Virgin Media Ltd; Defendant / Respondent: NTL Pension Trustees II Ltd; Defendant / Respondent: Ross Russell Ltd; Defendant / Respondent: John Jardine
Jurisdiction
England and Wales
Judgment Date
25 July 2024
Procedural Posture
Civil Appeal / Court of Appeal Judgment on Appeal From High Court
Outcome
Appeal dismissed
Legal Topics
Contracted Out Occupational Pension Schemes, Statutory Construction of Pension Regulations, Validity of Pension Scheme Amendments, Actuarial Certification Requirements
Pensions Law Statutory Interpretation Employment Law Contracted Out Occupational Pension Schemes Statutory Construction of Pension Regulations Validity of Pension Scheme Amendments Actuarial Certification Requirements

Case Brief

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Parties

Virgin Media Ltd

Claimant / Appellant

NTL Pension Trustees II Ltd

Defendant / Respondent

Ross Russell Ltd

Defendant / Respondent

John Jardine

Defendant / Respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment on Appeal From High Court

Legal Issues

  1. 1 Whether s. 37 of the Pension Schemes Act 1993 and reg 42 of the Contracting-out Regulations required actuarial confirmation for amendments affecting future service rights, not just past service rights, in contracted-out pension schemes.

Ratio Decidendi

The Court held that the definition of 'section 9(2B) rights' in reg 42(2) of the Contracting-out Regulations includes both past and future service rights. Therefore, any amendment to the rules of a contracted-out scheme affecting benefits to be earned by future service required written confirmation from the scheme actuary that the scheme would continue to satisfy the statutory standard. The absence of such confirmation rendered the amendment void.

Court Disposition

Appeal dismissed

Orders

  • The appeal by Virgin Media Ltd is dismissed.
  • The High Court's order is affirmed.