Lloyds Bank Must Plug Ex-Employees' Pension Shortfalls

Law360, London (November 20, 2020, 4:23 PM GMT) -- Trustees for Lloyds Bank's pension scheme must plug historic shortfalls in the retirement pots of employees who swapped providers, a judge said on Friday in a landmark ruling expected to add to the massive review of gender discrimination in British pensions.

Trustees for the Lloyds Bank pension plan must compensate former members whose retirement pots were miscalculated when they switched provider, a judge has said. (iStock) High Court Judge Paul Morgan said the Lloyds Banking Group Pensions Trustees Ltd. is under an obligation to compensate former members of the plan whose retirement pots were miscalculated when they were transferred to another provider....

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