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Case Notes: Merrett Holdings v The Pensions Ombudsman (High Court (Chancery Division)) June 1998

United Kingdom
28/01/1999
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Merrett Holdings v The Pensions Ombudsman (High Court (Chancery Division)) June 1998

Reversed a determination of the Pensions Ombudsman. Where it was clear from the circumstances that the employer's contributions had been paid on account, a payment to the employer out of a pension scheme which represented recent employer contributions was not a breach of trust, even though the scheme rules did not permit payments to the employer. The scheme had annual actuarial valuations and the employer paid contributions at the previous year's rate until the valuation results were known. As the employer was in effect an agent for Lloyd's Names different people would be contributing in different years if the sums for a particular year were not correctly determined.

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