The PNPF Trust Company Ltd v Taylor & Ors

The PNPF Trust Company Ltd v Taylor & Ors

The trustee has power under the scheme rules (as amended) to impose additional contribution obligations on both active and former participating bodies (CHAs), subject to proper exercise of discretion and compliance with statutory and scheme requirements. The statutory employer debt regime (section 75 Pensions Act 1995) and scheme specific funding regime (Pensions Act 2004) do not apply to self-employed CHAs or self-employed members, but do apply to employer CHAs. The Deeds of Accession do not restrict the trustee's amendment power beyond the limits of the scheme rules and statutory regime. Amendments to introduce Rules 13(4) and 14(4) were within the trustee's power. The statutory funding...

Parties
Claimant: THE PNPF TRUST COMPANY LTD (AS TRUSTEE OF THE PILOTS NATIONAL PENSION FUND); 1st Defendant: Geoff Taylor; 2nd Defendant: Terry Clark; 3rd Defendant: Milford Haven Port Authority; 4th Defendant: Port of London Authority; 5th Defendant: Shoreham Port Authority; 6th Defendant: Port of Tyne Authority; 7th Defendant: First Corporate Shipping Limited (The Bristol Port Company); 8th Defendant: PD Teesport Limited
Jurisdiction
England and Wales
Judgment Date
28 June 2010
Procedural Posture
Part 8 Claim (trustee's Application for Directions) / First Instance Judgment
Outcome
Declaratory judgment: trustee's powers and statutory regime clarified; amendments to contribution rules upheld; guidance given on application of statutory employer debt and funding regimes.
Legal Topics
Occupational Pension Scheme Deficits, Trustee Powers of Amendment, Employer Debt Regime (section 75 Pensions Act 1995), Scheme Specific Funding (pensions Act 2004), Multi Employer Pension Schemes, Deeds of Accession, Shared Cost Schemes, Statutory Override of Scheme Rules
Pensions Law Trust Law Statutory Interpretation Occupational Pension Scheme Deficits Trustee Powers of Amendment Employer Debt Regime (section 75 Pensions Act 1995) Scheme Specific Funding (pensions Act 2004) Multi Employer Pension Schemes +3 more

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Parties

THE PNPF TRUST COMPANY LTD (AS TRUSTEE OF THE PILOTS NATIONAL PENSION FUND)

Claimant

Geoff Taylor

1st Defendant

Terry Clark

2nd Defendant

Milford Haven Port Authority

3rd Defendant

Port of London Authority

4th Defendant

Shoreham Port Authority

5th Defendant

Port of Tyne Authority

6th Defendant

First Corporate Shipping Limited (The Bristol Port Company)

7th Defendant

PD Teesport Limited

8th Defendant

Procedural Posture

Part 8 Claim (trustee's Application for Directions) / First Instance Judgment

Legal Issues

  1. 1 Whether the trustee has power to amend the scheme rules to impose additional contribution obligations on participating bodies (CHAs)
  2. 2 Whether the statutory employer debt regime (section 75 Pensions Act 1995) applies to self-employed CHAs and/or self-employed members
  3. 3 Whether the scheme specific funding regime under Pensions Act 2004 overrides or supplements the scheme's own contribution rules

Ratio Decidendi

The trustee has power under the scheme rules (as amended) to impose additional contribution obligations on both active and former participating bodies (CHAs), subject to proper exercise of discretion and compliance with statutory and scheme requirements. The statutory employer debt regime (section 75 Pensions Act 1995) and scheme specific funding regime (Pensions Act 2004) do not apply to self-employed CHAs or self-employed members, but do apply to employer CHAs. The Deeds of Accession do not restrict the trustee's amendment power beyond the limits of the scheme rules and statutory regime. Amendments to introduce Rules 13(4) and 14(4) were within the trustee's power. The statutory funding...

Court Disposition

Declaratory judgment: trustee's powers and statutory regime clarified; amendments to contribution rules upheld; guidance given on application of statutory employer debt and funding regimes.

Orders

  • Trustee has power to amend scheme rules to impose additional contribution obligations on participating bodies (CHAs), both active and former, subject to proper exercise of discretion.
  • Statutory employer debt regime (section 75 Pensions Act 1995) and scheme specific funding regime (Pensions Act 2004) do not apply to self-employed CHAs or self-employed members.