26 October 2018

Company pension scheme members set to receive billions in back payments

2 min read

 
Steve Webb - Director of Policy

Steve Webb

Director of Policy, Royal London

Share

  • Linkedin

Commenting on today’s judgment on the court case between Lloyds Bank pension scheme and some of its members on pensions equality, Royal London’s director of policy, Steve Webb, said:

“It is good news that this ruling finally provides clarity over this contentious issue. Schemes will need urgent help from government and regulators to know the best way to respond to this judgment. Members of company schemes could collectively receive a multi-billion pound windfall, but the complexity of making the necessary calculations means that members will not be receiving cheques any time soon”.

-ENDS-

For further information please contact:

Steve Webb, Director of Policy

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.