Posted by Derek Wright on 22 November 2000 at 10:04:33:
Check out todays London Times re the latest in the Barclays Bank Pension story
BARCLAYS BANK yesterday won the right to subsidise
contributions to one of its pension plans with surpluses from
another scheme, after the High Court overturned a ruling by
the Pensions Ombudsman.
Experts believe that the judge s ruling could set a precedent to
allow companies to use surpluses in some schemes to fund
new, cheaper pension arrangements. The savings involved
could run into billions of pounds every year.