Course description
Occupation pension scheme trustees have increasingly been confronted with the realisation that their schemes’ governing documentation contain ambiguities, uncertainties and errors, often only after they have come under close scrutiny. When advising trustees or employers who find themselves in this situation, it is crucial that you maintain a thorough understanding of how such schemes can be administered, how their liabilities will be valued, the claims a trustee may face, claims which trustees or employers may have against previous advisers and how to decide if members have been overpaid.
Barrister Elizabeth Ovey presents this live and interactive broadcast which will examine several practical problems which may arise in this scenario.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
In recent times many occupational pension scheme trustees have had the unhappy experience of finding that when their scheme’s governing documentation comes under close scrutiny (for example, in connection with the preparation of a new definitive deed or as new advisers come to grips with the scheme) ambiguities, uncertainties and errors emerge.
Questions then follow:
- How is the scheme to be administered?
- How are its liabilities to be valued?
- What claims may the trustees face?
- Do the trustees or the employers have a claim against previous advisers if loss has been suffered?
- Have members been overpaid?
This new virtual classroom seminar will explore a case study depicting a hypothetical scheme enabling pensions expert Elizabeth Ovey to examine several practical problems which schemes may face and the potential ways forward. The scenario will consider:
- Execution problems
- Defective attempts at equalisation
- Breaking the final salary link
- Potential liabilities in respect of past transfers
- Court proceedings to resolve uncertainty
- Compensation for underpayments
- Recovery of overpayments
- Professional negligence claims
What You Will Learn
This live and interactive session will cover the following:
- Possible ways of resolving execution issues (and how to avoid them in future)
- Some less immediately obvious implications of defective equalisation
- When and how the final salary link may be broken
- When liability may arise in respect of a past transfer
- The scope for resolving issues through proceedings for construction or rectification
- Practical ways of dealing with past underpayments to transferees and the estates of deceased members
- The scope for recovery of overpayments
- Practical issues arising in professional negligence claims
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...