Pension Cap For Younger Staff Is Discriminatory, Judge Rules

Law360, London (June 22, 2020, 6:06 PM BST) -- A London judge ruled Monday that capping pension payments to employees of insolvent companies who have retired before the normal age is unlawful discrimination, ruling the U.K.'s defined benefit protection fund must compensate 25 retirees.

High Court Judge Clive Lewis said that a compensation cap imposed by the Pension Protection Fund on members who have retired early is age discrimination. The statutory fund, which pays out the retirement benefit for insolvent companies, forks out 90% of annual pension payments for employees who retire before normal pension age.

But the fund also places a cap on the maximum amount that early retirees...

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