View more on these topics

Govt could be found guilty of pensions misselling by Court of Appeal tomorrow

The Government could be found guilty of misselling company pensions tomorrow when the Court of Appeal announces its verdict.

The 125,000 workers who lost their occupational pensions when their company schemes were wound up will find out whether the Court of Appeal confirms their Judicial Review victory against the Government.

Alternatively, the Court of Appeal may agree with the Secretary of State’s claims that the High Court judge and the Parliamentary Ombudsman were irrational to suggest that the Government is guilty of effectively misselling company pensions to members.

The Government announced in December that it would be extending the Financial Assistance Scheme to the pensions victims but campaigner Ros Altmann says the Department for Work and Pensions has still not offered any apology for the distress it has caused the workers.

Altmann says: “It has been obvious, to everyone who looks at the history of this case, that members were indeed lulled into a false sense of security, but the DWP has tried to get away with pretending it is innocent of all wrongdoing in this case.

“This culture of denial is very worrying and I hope that the Court of Appeal will finally give a judgement that will force the Government to accept its responsibility for the situation, instead of trying to claim that everyone who disagrees with the Secretary of State’s opinion on the matter is ‘irrational’. If the Court of Appeal finds in favour of the Government, there will be real concerns for future protections of innocent citizens in this country, so the verdict will have important ramifications even beyond this case.”

Recommended

JP Morgan offers two offshoots of top-quartile Euro fund

JP Morgan Asset Management is building on its expertise in the European small companies market by adding growth and value versions of its existing fund to its Luxemburg-based Sicav range.The funds, which launched officially on January 10, have now received UK distributor status. They are designed to offer investors an extension to the £212m European […]

Reeve ready for big PosSol push

Positive Solutions chief executive Jim Reeve says his predecessor David Harrison would not have been able to lead the business through the transition it must now go through.In an interview with Money Marketing at last week’s Positive Solutions’ national partners forum in Birmingham, he said: “I don’t believe that he would be able to manage […]

Aifa’s bold vision

Monday, January 28, was a milestone for Aifa and the IFA profession when we launched a clear, far-sighted and ambi-tious vision for the future of our profession. After months of work by a group of committed individuals from businesses across the community, Aifa unveiled its Manifesto for Advice at the Houses of Parliament.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment