Pitmans Trustees Ltd. & Ors v The Telecommunications Group Plc

Pitmans Trustees Ltd. & Ors v The Telecommunications Group Plc

The Plan is a single occupational pension scheme for purposes of s.75 Pensions Act 1995, entitling the Trustees to claim the whole deficit from Roxspur. However, the Trustees failed to consult Roxspur as required by s.35(5)(b) before adopting the revised Statement of Investment Principles, rendering the adoption and the Actuary's certificate invalid. Consequently, the debt claimed was not established in accordance with statutory requirements and the action must be dismissed.

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, Statutory Interpretation, Trustee Duties, Consultation Requirements
Pensions Trusts Employment Occupational Pension Schemes Scheme Winding Up Statutory Interpretation Trustee Duties Consultation Requirements

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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 apply to require separate treatment of scheme sections?
  3. 3 Did the Trustees consult the employer as required by s.35(5)(b) Pensions Act 1995 before adopting a gilts-matching policy?

Ratio Decidendi

The Plan is a single occupational pension scheme for purposes of s.75 Pensions Act 1995, entitling the Trustees to claim the whole deficit from Roxspur. However, the Trustees failed to consult Roxspur as required by s.35(5)(b) before adopting the revised Statement of Investment Principles, rendering the adoption and the Actuary's certificate invalid. Consequently, the debt claimed was not established in accordance with statutory requirements and the action must be dismissed.

Court Disposition

claim dismissed

Orders

  • Action and Trustees' application summarily dismissed.
  • No determination of specific issues in either party's application notice.