Pensions - Gowling Wlg

Key Points Calculating pension loss can be complex, especially where the employee was defined benefit pension scheme. The Employment Tribunal service published a 2003 guidance note which suggested two methods for approximating pension loss without the need for actuarial advice, but this guidance has now been withdrawn. During April and May 2016, the President of the Employment Tribunals (England and Wales) consulted on a new approach to calculating pension loss. The response to this consultation is awaited. In higher value cases, the parties may wish to take actuarial advice on pension loss. In the context of a negotiated exit, there are several ways to compensate for pension loss. The cooperation of the pension scheme administrators or trustees may be required to implement some of these.