SPS Technologies Ltd v Moitt & Ors [2020] EWHC 2421 (Ch) (11 September 2020)

SPS Technologies Ltd v Moitt & Ors [2020] EWHC 2421 (Ch) (11 September 2020)

The claimant established, with convincing proof, that the intention behind the 1998, 1999 Rules and 2003 Deed was for actuarial reduction to apply equally to Transferred Members taking early retirement from pensionable service or deferment, and that the drafting error was carried forward without intention or...

Source-derived case information.

Citation
[2020] EWHC 2421 (Ch)
Parties
Claimant: SPS Technologies Limited; Defendant: Phillex Lovester Moitt; Defendant: Michael Seitz; Defendant: Stephen Tachouet; Defendant: Salim Sidat
Jurisdiction
England and Wales
Judgment Date
11 September 2020
Procedural Posture
Civil (pensions) / Summary Judgment Application
Outcome
Summary judgment granted; rectification ordered.
Legal Topics
Rectification of Deeds, Mistake in Pension Scheme Rules, Early Retirement Provisions, Actuarial Reduction, Serial Rectification
Equity Pensions Trusts Rectification of Deeds Mistake in Pension Scheme Rules Early Retirement Provisions Actuarial Reduction Serial Rectification

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 16 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

SPS Technologies Limited

Claimant

Phillex Lovester Moitt

Defendant

Michael Seitz

Defendant

Stephen Tachouet

Defendant

Salim Sidat

Defendant

Procedural Posture

Civil (pensions) / Summary Judgment Application

Legal Issues

  1. 1 Whether the 1998, 1999 Rules and 2003 Deed governing the SPS Technologies UK Pension Plan should be rectified to correct an error affecting early retirement provisions for Transferred Members

Ratio Decidendi

The claimant established, with convincing proof, that the intention behind the 1998, 1999 Rules and 2003 Deed was for actuarial reduction to apply equally to Transferred Members taking early retirement from pensionable service or deferment, and that the drafting error was carried forward without intention or discussion. The Plan was administered consistently with this intention, justifying rectification.

Court Disposition

Summary judgment granted; rectification ordered.

Orders

  • Rectification of the Definitive Deed and Rules dated 30 March 1998, 17 December 1999, and the Deed of Amendment dated 5 June 2003 to correct the error regarding actuarial reduction for Transferred Members' early retirement from deferment.