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Pension – Pension scheme. The Chancery Division ruled, in respect of a proposed transfer of the assets and liabilities of the Halcrow pension scheme to a new occupational pension scheme, that reg 12(3) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991, SI 1991/167, should not be construed in a way which required the actuary to consider the security of the benefits in the transferring and receiving scheme when giving a certificate under that regulation. Further, it held that there was no scope for a different construction or analysis of reg 12(3) where the transferring scheme was in winding up from the situation where it was ongoing.
Pension – Pension scheme. The Chancery Division ruled, in respect of a proposed transfer of the assets and liabilities of the Halcrow pension scheme to a new occupational pension scheme, that reg 12(3) of the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991, SI 1991/167, should not be construed in a way which required the actuary to consider the security of the benefits in the transferring and receiving scheme when giving a certificate under that regulation. Further, it held that there was no scope for a different construction or analysis of reg 12(3) where the transferring scheme was in winding up from the situation where it was ongoing.
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