COMMUNITY, the main steel union, has set the wheels in motion to sue ministers for failing to protect members of occupational pension schemes, in a landmark case which could cost the Government up to £2.5bn, says this morning's Times newspaper.
Community, the metal and textile workers’ trade union, said the lawsuit could set a precedent by enabling 65,000 people who have lost pension benefits after their employers went bust, to seek compensation as it believes a compensation fund of £400m is not enough. The new Work and Pensions Secretary will have an enormous headache of issues to deal with even before they start work, following the resignation of Andrew Smith MP, as the case is expected to be presented to the High Court in November, at which time Community will ask the judge to refer the case to the European Court of Justice ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
