Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank Plc & Ors [2018] EWHC 2839 (Ch) (26 October 2018)

Lloyds Banking Group Pensions Trustees Ltd v Lloyds Bank Plc & Ors [2018] EWHC 2839 (Ch) (26 October 2018)

There is an obligation under EU and domestic law for trustees to equalise benefits for the effect of unequal GMPs between men and women in contracted-out occupational pension schemes for service between 17 May 1990 and 5 April 1997. Trustees must adjust non-GMP benefits to ensure equality. The court approves representation orders to bind all interested parties. The method of equalisation and period for back payments are to be determined in accordance with principles of minimum interference and practicality, subject to further submissions.

Citation
[2018] EWHC 2839 (Ch)
Parties
Claimant: Lloyds Banking Group Pensions Trustees Limited; First Defendant: Lloyds Bank PLC; Second Defendant: HBOS PLC; Third Defendant: Angela Sharp; Fourth Defendant: Judith Cain; Fifth Defendant: Susan Dixon; Sixth Defendant: Secretary of State for Work and Pensions; Seventh Defendant: Her Majesty’s Treasury
Jurisdiction
England and Wales
Judgment Date
26 October 2018
Procedural Posture
Part 8 Claim (high Court, Chancery Division) / Judgment (first Instance, Post Trial)
Outcome
Obligation to equalise benefits for the effect of unequal GMPs confirmed; representation orders granted; further directions to be given on method and period for back payments.
Legal Topics
Guaranteed Minimum Pensions (gmp) Equalisation, Sex Discrimination, Contracting Out of SERPS, Trustee Obligations, Back Payments, Interest on Arrears, Representation Orders
Pensions Employment Equality European Law Guaranteed Minimum Pensions (gmp) Equalisation Sex Discrimination Contracting Out of SERPS Trustee Obligations +3 more

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Parties

Lloyds Banking Group Pensions Trustees Limited

Claimant

Lloyds Bank PLC

First Defendant

HBOS PLC

Second Defendant

Angela Sharp

Third Defendant

Judith Cain

Fourth Defendant

Susan Dixon

Fifth Defendant

Secretary of State for Work and Pensions

Sixth Defendant

Her Majesty’s Treasury

Seventh Defendant

Procedural Posture

Part 8 Claim (high Court, Chancery Division) / Judgment (first Instance, Post Trial)

Legal Issues

  1. 1 Is there an obligation to equalise benefits for the effect of unequal GMPs between men and women?
  2. 2 What method should be adopted to equalise benefits?
  3. 3 For what period can members claim for previously underpaid benefits?

Ratio Decidendi

There is an obligation under EU and domestic law for trustees to equalise benefits for the effect of unequal GMPs between men and women in contracted-out occupational pension schemes for service between 17 May 1990 and 5 April 1997. Trustees must adjust non-GMP benefits to ensure equality. The court approves representation orders to bind all interested parties. The method of equalisation and period for back payments are to be determined in accordance with principles of minimum interference and practicality, subject to further submissions.

Court Disposition

Obligation to equalise benefits for the effect of unequal GMPs confirmed; representation orders granted; further directions to be given on method and period for back payments.

Orders

  • Representation orders made under CPR 19.7(2) as agreed by parties, excluding Issue 13.
  • Trustee obliged to equalise benefits for the effect of unequal GMPs between men and women for relevant period.