Pitmans Trustees Ltd. & Ors v The Telecommunications Group Plc [2004] EWHC 181 (Ch) (10 February 2004)

Pitmans Trustees Ltd. & Ors v The Telecommunications Group Plc [2004] EWHC 181 (Ch) (10 February 2004)

The Plan is a single occupational pension scheme for s.75 purposes, but the Trustees failed to consult Roxspur before adopting the revised Statement of Investment Principles, rendering the adoption and the actuarial certificate invalid. The debt claimed was not established in accordance with statutory requirements.

Citation
[2004] EWHC 181 (Ch)
Parties
Claimant: Pitmans Trustees Limited; Claimant: Derek Whitehead; Claimant: Robert John Oakeley Bracey-Wright; Defendant: The Telecommunications Group PLC
Jurisdiction
England and Wales
Judgment Date
10 February 2004
Procedural Posture
Civil / Summary Judgment Application
Outcome
Claim dismissed
Legal Topics
Occupational Pension Schemes, Scheme Winding Up, Trustee Duties, Employer Liability, Investment Principles, Statutory Interpretation
Pensions Trusts Employment Occupational Pension Schemes Scheme Winding Up Trustee Duties Employer Liability Investment Principles +1 more

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Parties

Pitmans Trustees Limited

Claimant

Derek Whitehead

Claimant

Robert John Oakeley Bracey-Wright

Claimant

The Telecommunications Group PLC

Defendant

Procedural Posture

Civil / Summary Judgment Application

Legal Issues

  1. 1 Is the Plan a single scheme for purposes of s.75 Pensions Act 1995?
  2. 2 Does s.75(1B) Pensions Act 1995 require the Plan to be treated as separate schemes?
  3. 3 Was the adoption of a gilts-matching policy valid under s.35(5)(b) Pensions Act 1995?

Ratio Decidendi

The Plan is a single occupational pension scheme for s.75 purposes, but the Trustees failed to consult Roxspur before adopting the revised Statement of Investment Principles, rendering the adoption and the actuarial certificate invalid. The debt claimed was not established in accordance with statutory requirements.

Court Disposition

Claim dismissed

Orders

  • Summary dismissal of the action and Trustees' application
  • No determination of specific issues in either party's application notice