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Articles by Hayley Goldstone
Impersonation fraud risk flagged by pensions regulator
The recommendations were made by The Pensions Regulator (TPR) after “a heightened risk” of impersonation fraud was flagged in respect of members of UK pension schemes now living in Africa. The regulator said that particular risk had been identified by one of its own intelligence analysts seconded to Report Fraud, a service run by the City of London Police, with that analysis based largely on the data generated by reporting by pension professionals.
Pensions Ombudsman highlights importance of documenting contractual pension benefits in scheme rules
In the decision (69 pages / 4.5MB), the PO criticised the employer for failing to adequately document and maintain the employee’s contractually entitled pension benefits for almost 18 years despite earlier promises that it would “mirror” the benefits he had received under previous schemes. The dispute involved Mr H, who joined the Olsy Pension Scheme (the Olsy Scheme) on 1 September 1981, when he was employed by British Olivetti Limited.
Pensions tribunal decisions highlight need for procedural compliance
The FTT has struck out several appeals against decisions of The Pensions Regulator (TPR) because employers bringing the appeals failed to follow the correct procedure. Hayley Goldstone, pensions litigation expert at Pinsent Masons, said: “Recent cases underscore the need for employers to ensure procedural compliance in tribunal appeals.” Employers can appeal against TPR’s decision to issue fines for breaking the rules on providing staff with a workplace pension.
Pension trustees must ensure clear communications to members if overpayment issues arise
In a recent case, the PO decided it would not be equitable to allow pension trustees to recoup most of the overpayments made to a pensioner. In a comprehensive examination of his powers and approach to this type of dispute, the PO confirmed he expects trustees to resolve any uncertainty as to members’ entitlements without delay.
UK pension firms issued dispute resolution guidance following Court of Appeal decision
The Pension Ombudsman (PO) recently published a factsheet (3 pages/156 KB) to assist schemes with the procedure required to recover disputed overpayments after the Court of Appeal ruled late last year that the PO is not a “competent court” for such purpose within section 91 of the Pensions Act 1995.
Ombudsman annual report highlights ‘good news’ for UK pension schemes
It comes as the Pensions Ombudsman (PO) published its annual report and accounts (128-page / 3.21MB PDF) for 2022-23. The report shows that the PO continues to “play a vital role in handling member complaints”, pensions litigation expert Hayley Goldstone of Pinsent Masons said. According to the report, the demand for the service continues to rise at a much higher rate than anticipated, with the number of complaints increasing by 17% to 7,280 in the past year.
Court of Appeal adds additional hurdle to pension trustees recouping payments
The judgment means that if a pension overpayment is disputed by the member, trustees must apply to the county court to enforce a PO determination upholding the overpayment. Pensions litigation expert Hayley Goldstone of Pinsent Masons described the decision as a “blow” to the PO’s enforcement powers and an “unwelcome inconvenience” for pension trustees.
UK Pensions Regulator incorporates climate change into fines policy
The UK Pensions Regulator has updated its monetary penalties policy to include requirements for climate change governance and reporting by pension schemes. The new policy requires trustees to introduce measures that identify and manage climate-related risks and opportunities and to publish reports about the steps they have taken to mitigate them. Failure to publish such reports will result in a financial penalty.
Communication with members key to early dispute resolution, says UK Pensions Ombudsman
The tips cover steps schemes can take before complaints arise, as well as recommendations for how to handle complaints to avoid them escalating.
Later rule changes cannot validate earlier pension increases, rules court
The judgment clarifies when and how pensions trustees can grant themselves a new power by amendment, in order to validate a previous invalid exercise of a power. The court was ruling in a case concerning the pension scheme for stationery company BIC UK. The company and the scheme trustees had tried to introduce inflation-linked annual increases to the pensions of members of the scheme earned before 6 April 1997.
Pensions Ombudsman to overhaul dispute resolution
The changes build on the merger of the dispute resolution functions of the Pensions Advisory Service (TPAS) with those of the Pensions Ombudsman earlier this year. They will include allocating cases to staff based on resource capacity and priority, improving caseload management and better internal triage of disputes, according to the service's recently-published corporate plan (20-page / 1.1MB PDF).
'One-stop' pensions dispute resolution process to be introduced from April
Currently, consumers should refer complaints about their pension to the Pensions Advisory Service (TPAS) if they have not exhausted the scheme's internal dispute resolution procedure, and to the Pensions Ombudsman if they have exhausted the scheme's internal dispute resolution procedure. From 1 April 2018, the Pensions Ombudsman will take over responsibility for all pension disputes.
Pensions litigation included in civil court procedure guide for first time
Disputes over pension schemes form a "regular part" of the Chancery division's work, according to the guidance (131-page/782KB PDF). However, the new guide acknowledges that "specialist" knowledge is often required in pensions disputes. To reflect this, a party may apply to the chief master for a pensions case to be assigned to the specialist master, Master Teverson.
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