Strathclyde to pay damages after pension advice shortfall

The fund, one of the largest local authority pension funds in the UK, pays pension benefits on behalf of the Local Government Pension Scheme (LGPS). This case involves Mr I Sheach, who had been part of the LGPS since 1979 and applied for voluntary redundancy from North Lanarkshire Council after 29 years' service. His application was granted, and Sheach was entitled to a redundancy payment as well as a final salary pension. Under the Local Government Regulations 1998, Sheach was also entitled to compensatory added years (CAYs) on his pension as part of the redundancy deal. Strathcly...