The Court of Justice of the European Union (CJEU) has ruled today that the Pension Protection Fund regime does not satisfy European law requirements. The judgment is likely to have a significant impact on the PPF, and could have wider knock-on effects for many occupational pension schemes.
Background to the case
European Union, United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, Pension Protection Fund, Court of Justice of the European Union
The Pensions Regulator has announced, following several years of proceedings and court skirmishes, that a compromise has been reached in relation to the Financial Support Directions (FSDs) issued under the Lehman Brothers UK pension scheme.
FSDs and the Lehmans case – a reminder
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, CMS Cameron McKenna Nabarro Olswang LLP, The Pensions Regulator (UK), Lehman Brothers