No matter what stage you are at in your GMP equalisation project, there may well come a time where you have to draw a line and conclude that not all liabilities will be settled – for example due to data gaps or missing beneficiaries. Where trustees do not settle all liabilities what claims could members bring and what can trustees do to protect themselves? How might it impact on a buy-out and wind-up down the line? In this recording of a live webinar Martin Kellaway from the insurer Occupational Pensions Defence Union joins Susannah Young (partner) and Catrin Young (practice development lawyer) to answer these questions and more.
What we cover:
- What GMP equalisation (or other) claims could trustees face from members and what potential arguments are available to defend those claims?
- In what circumstances could trustees be personally liable for failing to settle a GMP equalisation liability?
- What can trustees of an ongoing scheme do to protect themselves and the scheme from the cost of future claims?
- Are there additional steps that trustees should consider taking on wind-up of the scheme to protect against any residual risk?
- Can insurance help and, if so, what are the available insurance options?
This webinar will be of interest to all trustees and pensions advisers conducting a GMP equalisation or other benefit correction/rectification exercise.
We hope you will find this conversation useful and if you have any questions on the topics which were covered, please do get in touch.
To watch the webinar on demand, please use the button below.