NAPF backs House of Lords' ruling on pensions surplus

Professional Adviser
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The National Association of Pension Funds (NAPF) says yesterday's judgment by the House of Lords, to ...

The National Association of Pension Funds (NAPF) says yesterday's judgment by the House of Lords, to give employers in the National Grid case the right to use surplus funds for a contribution holiday, is "good news all round". Yesterday's decision was the final attempt by members and pensioners of the Electricity Supply Pension Scheme (ESPS) to claim the surplus funds - money which is over and above that needed to meet pensions benefit payments - and use them to boost pensions benefits for its members. There are 25 pensions schemes under the National Grid umbrella, so losing the Lord...

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