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  • FIRST POST
    • marlot
    • By marlot 14th Nov 17, 8:32 PM
    • 3,115Posts
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    marlot
    Steria Pension Plan Trustees v Sopra Steria Ltd
    • #1
    • 14th Nov 17, 8:32 PM
    Steria Pension Plan Trustees v Sopra Steria Ltd 14th Nov 17 at 8:32 PM
    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?
Page 1
    • Malthusian
    • By Malthusian 15th Nov 17, 10:31 AM
    • 3,280 Posts
    • 4,980 Thanks
    Malthusian
    • #2
    • 15th Nov 17, 10:31 AM
    • #2
    • 15th Nov 17, 10:31 AM
    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
    • By xylophone 15th Nov 17, 12:38 PM
    • 23,400 Posts
    • 13,602 Thanks
    xylophone
    • #3
    • 15th Nov 17, 12:38 PM
    • #3
    • 15th Nov 17, 12:38 PM
    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
    • By marlot 15th Nov 17, 4:56 PM
    • 3,115 Posts
    • 2,257 Thanks
    marlot
    • #4
    • 15th Nov 17, 4:56 PM
    • #4
    • 15th Nov 17, 4:56 PM
    Wow - great result, Xylophone - and thank you.

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