Steria Pension Plan Trustees v Sopra Steria Ltd

marlot · 14 November 2017 at 9:32PM

A court case was due to be heard this year considering the requirement to obtain a “section 37” certificate in relation to a scheme amendment.

I believe the outcome of this test case may affect other pensions where the company has obtained an actuary's opinion but neglected to get the appropriate certificate.

I can't find anything online about the result. Does anyone know the latest status?

Malthusian · 15 November 2017 at 11:31AM

This could be in the running for the most niche question ever asked on this board.

My Googling hasn't done any better than yours. Have you tried asking the Steria trustees?

xylophone · 15 November 2017 at 1:38PM

From the Sopra Steria Annual Financial Report 31 12 16

It should be noted that legal proceedings have been initiated by
the Steria Pension Plan Trustees before the High Court of Justice in
order to confirm the validity and date of effect of an amendment to
the agreement concerning defined benefit plans. This amendment,
signed in 2006, changed employees’ contributions and future
rights (no new future rights have been vested since 2010). Sopra
Steria Limited as Principal employer is also party to the proceedings.
In the event of an unfavourable outcome, there may be a risk of
revaluation of contributions and future rights.
In view of this situation, the Trustees and Sopra Steria have – against
previous advice – launched legal proceedings to establish liability
and seek compensation for all damages suffered; these proceedings
are currently suspended pending a decision by the High Court
of Justice.

https://www.burges-salmon.com/news-and-insight/legal-updates/a-wintry-flurry-of-pensions-cases-just-what-you-wanted-for-christmas/

An amendment without actuarial certificate – a cause for concern?

Certain amendments to schemes contracted-out from the second state pension are not allowed without actuarial certification (s37 of the PSA 1993). What is not settled is whether a formal certificate is needed or if a simple written actuarial advice meets this requirement. Steria Pension Plan Trustees v Sopra Steria Ltd will hopefully cast some light on this issue – due to be heard in December 2016 in the High Court.

I gathered from a brief mention elsewhere on the web that the case had been heard but a decision was awaited "in 2017" - presumably not yet announced?

It may be that the Sopra 2017 Annual Report will have more information.

marlot · 15 November 2017 at 5:56PM

Wow - great result, Xylophone - and thank you.

I agree that it is a highly niche area of pensions!

Steria Pension Plan Trustees v Sopra Steria Ltd

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